TCRLA_Public/061023.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                    L A T I N   A M E R I C A

          Monday, October 23, 2006, Vol. 7, Issue 210

                          Headlines

A R G E N T I N A

FERFRIGO SA: Verification of Creditor's Claims Is Until Nov. 29
FREESCALE SEMICONDUCTOR: Posts US$1.62B Third Quarter Net Sales
FRIGORIFICO SOLEDAD: Verification of Claims Is Until Dec. 1
IMPRESIONES ARCO: Claims Verification Deadline Is on December 15
POLYMER GROUP: Finalizes Deal to Buy Spunbond Line in Argentina

TANSAD SRL: Verification of Proofs of Claim Is Until Dec. 13
TELEVISION ABC: Reorganization Proceeding Concluded
YPF SA: Bids US$6.12MM in San Juan Hydrocarbons Exploration

B A H A M A S

ISLE OF CAPRI: Names Julia Carcamo as Brand Mktg. Vice President
ISLE OF CAPRI: Names New Corporate Vice President
WINN-DIXIE: Wants Employment Pact with CEO Peter Lynch Approved
WINN-DIXIE: Court Directs Logan to Count Votes of 14 Claimants
WINN-DIXIE: Wants Basin Street Pact for Store # 1409 Approved

B E R M U D A

GLOBAL CROSSING: Provides Broadband Connectivity to OneCommunity
LUMINUS ENERGY: Creditors Must File Proofs of Claim by Nov. 2
MAGNA PETROCHEMICALS: Proofs of Claim Must be Filed by Nov. 2
PANENERGY EXPLORATION: Proofs of Claim Filing Is Until Nov. 2
SEA CONTAINERS: Hires BMC Group as Claims and Balloting Agent

B O L I V I A

* BOLIVIA: Cerro Rico Has Estimated Market Value of US$2.2 Bil
* BOLIVIA: Fencomin Turns Down Comibol's Offer to Work for Firm

B R A Z I L

BERTIN LTDA: Moody's Lifts B1 Rating on US$120 Mil. Notes to Ba3
CHEMTURA CORP: S&P Affirms BB+ Corporate Credit Rating
COMPANHIA SIDERURGICA: Will Present Bid for Corus Group
OCEANIA CRUISE: Moody's Assigns B2 Corporate Family Rating
OCEANIA CRUISES: S&P Junks Rating on Proposed US$75 Million Loan

PETROLEO BRASILEIRO: Inks Synthetic Oil Tech. Development Pact
PETROLEO BRASILEIRO: Regulator Limits Firm's Right to Operate
PETROLEO BRASILEIRO: Unit Supplying Ethanol Biodiesel Mixture
TAM SA: Integrates Third Airbus A330 into Fleet

* BRAZIL: World Bank Grants US$30 Mil. to Reduce Rural Poverty

C A Y M A N   I S L A N D S

ACOM FUNDING: Last Day to File Proofs of Claim Is on Oct. 30
AQUARIUM (IFI): Deadline to File Proofs of Claim Is on Nov. 10
CB TOPPS: Last Day for Proofs of Claim Filing Is Set for Nov. 10
HAVERFORD (IMA): Creditors Must File Proofs of Claim by Nov. 10
ICEBERG (IFI): Proofs of Claim Filing Deadline Is on Nov. 10

LEATHER INVESTMENTS: Filing of Proofs of Claim Is Until Nov. 6
MINIMAX INVESTMENTS: Proofs of Claim Filing Is Until Nov. 6
MOSBY EQUITY: Creditors Must Submit Proofs of Claim Until Nov. 6
MOSBY LTD: Deadline for Proofs of Claim Filing Is Set for Nov. 6
REVIVAL (IMA): Creditors Have Until Nov. 10 to File Claims

C H I L E

AES CORP: Appoints John McLaren as Executive Vice President
GERDAU SA: Chilean Unit Upgrading Plant in 2007 to Boost Output
GOODYEAR TIRE: Names New North American Unit Vice President
NOVA CHEMICALS: Moody's Lowers Corporate Family Rating to Ba3

C O L O M B I A

ARMOR HOLDINGS: Posts US$563 Mil. Third Quarter 2006 Revenues
ARMOR HOLDINGS: Acquires Schroth Safety Products for US$28.6MM
GERDAU SA: Analyst Says Acerias Paz Acquisition Good for Firm

C O S T A   R I C A

ARMSTRONG WORLD: Starts New York Stock Exchange Regular Trading
ARMSTRONG: VDM Specialists Starts Managing Firm's Trading
DENNY'S CORP: Creates New Positions for Corporate Restructuring

C U B A

* CUBA: Trade with US Grows Despite Embargo

D O M I N I C A N   R E P U B L I C

AES DOMINICANA: Government Wants AES Andres Deal Revoked
AFFILIATED COMPUTER: Continuing SmartPA Operation
CAP CANA: Fitch Assigns B Rating to Senior Secured Notes
CAP CANA: Moody's Rates US$200 Mil. Senior Secured Notes at B3

E C U A D O R

* ECUADOR: Congress Approves Revised Trust Fund Creation Bill

G U A T E M A L A

PAYLESS SHOESOURCE: Moody's Assigns Loss-Given-Default Rating

H A I T I

* HAITI: Audit of Public Agencies to be Disclosed in Five Days

H O N D U R A S

* HONDURAS: Presenting Telecommunications Law Reform to Congress

J A M A I C A

AIR JAMAICA: Seeking Cabinet Approval for Restructuring Plan
NATIONAL COMMERCIAL: Won't Pay For Caribbean Examination Council
SUGAR COMPANY: Pre-Qualification Bidding Deadline Extended

M E X I C O

GRUPO IUSACELL: Mexican Judge Issues Sentencia de Concurso
MERIDIAN AUTOMOTIVE: Court Approves Flex-N-Gate Settlement Pact
MERIDIAN AUTOMOTIVE: Court OKs Rejection of American Fin'l Lease
PILGRIM'S PRIDE: Gold Kist Comments on Termination Announcement

* MEXICO: Electricity Commission Okays US$2.2 Million for Plant

N I C A R A G U A

* NICARGUA: Two Groups Keen on Supplying Firm 100 Megawatts

P E R U

PETROLEO BRASILEIRO: Could Invest US$3.42B in Peru in Two Years

* PERU: Perupetro Signing 18 Exploration & Production Contracts

P U E R T O   R I C O

ADELPHIA COMMS: N.Y. Electric Wants Admin. Expense Claim Allowed
ADELPHIA COMMS: SCEC Seeks Court Nod on $718,234 Expense Claim
GLOBAL HOME: Wants to Reject Three Executory Contracts
HC CARIBBEAN: Voluntary Chapter 11 Case Summary
MUSICLAND HOLDING: James Hayes Wants Stay Lifted to Pursue Suit

WESCO INT: Reports US$1.3B Net Sales for Third Quarter 2006

T R I N I D A D   &   T O B A G O

DIGICEL LTD: Says Telecommunications Service Blocks Firm's Calls

U R U G U A Y

BEARINGPOINT INC: Names Judy Ethell as Chief Financial Officer
BEARINGPOINT: Gets US$69MM Deal to Boost Jordan Competitiveness

* URUGUAY: Enters Into Liability Management Transactions

V E N E Z U E L A

CITGO PETROLEUM: Selectman Withdraws Motion for Boycott
ELECTRICIDAD DE CARACAS: Planning Two New Share Issues
PEABODY ENERGY: Posts US$0.53 Third Quarter Earnings Per Share
PETROLEOS DE VENEZUELA: Assures No Shortage of Fuel Supply
PETROLEOS DE VENEZUELA: Chevron May Build Gas Plant

PETROLEOS DE VENEZUELA: Extracting Natural Gas from Maracaibo
PETROLEOS DE VENEZUELA: May Have to Repay US$1.6 Billion Bonds

* BOOK REVIEW: The First Junk Bond: A Story of Corporate Boom


                            -----

=================
A R G E N T I N A
=================


FERFRIGO SA: Verification of Creditor's Claims Is Until Nov. 29
---------------------------------------------------------------
Maria Paulina Alva, a court-appointed trustee for Ferfrigo SA's bankruptcy
proceeding, will verify creditors' proofs of claim until Nov. 29, 2006.

Ms. Alva will present the validated claims in court as individual reports on
Feb. 16, 2007.  A court in Buenos Aires will determine if the verified
claims are admissible, taking into account the Trustee's opinion and the
objections and challenges raised by Ferfrigo and its creditors.

Inadmissible claims may be subject for appeal in a separate proceeding known
as an appeal for reversal.

A general report that contains an audit of Ferfrigo's accounting and banking
records will follow on Apr. 3, 2007.

The Trustee can be reached at:

          Maria Paulina Alva
          Montevideo 536
          Buenos Aires, Argentina


FREESCALE SEMICONDUCTOR: Posts US$1.62B Third Quarter Net Sales
---------------------------------------------------------------
Freescale Semiconductor reported US$1.62 billion net sales in the third
quarter of 2006.

Freescale also posted these results for the third quarter of 2006:

   -- gross margin of 46.1%;
   -- operating margin of 16.4%;
   -- net earnings of US$257 million; and
   -- diluted earnings per share of US$.61.

Michel Mayer, the chairperson and chief executive officer of Freescale
Semiconductor, said, "I am pleased with the progress in our execution.  We
are continuing to transform Freescale into an industry leader."

                  Definitive Merger Agreement

On Sept. 15, 2006, Freescale Semiconductor entered into a definitive merger
agreement to be acquired by a private equity consortium in a transaction
with a total equity value of approximately US$17.6 billion.  The consortium
is led by The Blackstone Group, and includes The Carlyle Group, Permira
Funds and Texas Pacific Group.  Under the terms of the merger agreement, the
consortium will acquire all of the outstanding Class A and Class B shares of
Freescale Semiconductor for US$40 per share in cash, representing a premium
of 36% over the company's average closing share price during the 30 trading
days ended Sept. 8, 2006.  Freescale Semiconductor first acknowledged it was
in discussions with third parties regarding a possible transaction on Sept.
11, 2006.

Further information regarding the proposed merger can be found in the
company's definitive proxy statement dated Oct. 19, 2006, which has been
filed with the United States Securities and Exchange Commission.  The
proposed merger is subject to the approval of the definitive merger
agreement by Freescale Semiconductor's stockholders and the satisfaction of
other closing conditions.  The board of directors of Freescale Semiconductor
has unanimously approved the merger agreement and resolved to recommend that
the company's stockholders adopt the agreement.

A special meeting of stockholders to approve the merger has been scheduled
for Nov. 13, 2006.  Stockholders of record on
Oct. 18, 2006 are entitled to vote at the special meeting.

                    Third Quarter 2006

Net sales in the third quarter of 2006 increased to US$1.62 billion,
compared with the US$1.60 billion recorded in the second quarter of 2006 and
the US$1.45 billion recorded in the third quarter of 2005, representing
year-over-year growth of 11.7%.

Operating earnings for the third quarter of 2006 were US$265 million or
16.4% of net sales, compared with US$251 million, or 15.7% of net sales, for
the second quarter of 2006 and US$152 million, or 10.5% of sales, for the
third quarter of 2005.  Operating earnings grew 74% on a year-over-year
basis.

Net earnings for the third quarter of 2006 were US$257 million, or US$.61
per diluted share, which included stock-based compensation expense for stock
options of US$.03 per diluted share, representing year-over-year net
earnings growth of 57%.  This compares with US$260 million, or US$.61 per
diluted share, in the second quarter of 2006, including stock option
expense, and US$164 million, or US$.38 per diluted share, reported without
stock option expense, in the third quarter of 2005.

Included in the third quarter 2006 is US$15 million of expense associated
with the redemption of US$400 million of the company's floating rate notes
and US$7 million of expenses related to the definitive merger agreement.

Gross margin for the third quarter of 2006 was 46.1%, compared with 46.0% in
the second quarter of 2006 and 42.9% in the third quarter of 2005.

Cash, cash equivalents, short-term investments and marketable securities
totaled US$3.0 billion in the third quarter of 2006.  Capital expenditures
for the third quarter were US$193 million.

The Transportation and Standard Products segment reported net sales of
US$682 million in the third quarter of 2006, compared with US$697 million in
the second quarter of 2006 and US$620 million in the third quarter of 2005.

The segment's operating earnings were US$144 million in the third quarter of
2006, or 21% of net sales, compared with US$144 million in second quarter of
2006 and US$73 million in the third quarter of 2005.

The Networking and Computing Systems segment reported net sales of US$369
million, compared with US$370 million in the second quarter of 2006 and
US$360 million in the third quarter of 2005.

Operating earnings in the third quarter were US$101 million or 27% of net
sales, compared with US$102 million in the second quarter of 2006 and US$69
million in the third quarter of 2005.

The Wireless and Mobile Solutions segment reported net sales of US$540
million in the third quarter of 2006, compared with US$514 million in the
second quarter of 2006 and US$455 million in the third quarter of 2005.

The segment generated operating earnings of US$36 million, or 7% of net
sales, in the third quarter of 2006, compared with US$26 million in the seco
nd quarter of 2006 and US$35 million in the third quarter of 2005.

Other operations, which includes revenues and expenses not directly
attributed to any of our segments, reported an operating loss of (US$16)
million in the third quarter of 2006, compared to operating losses of
(US$21) million in the second quarter of 2006 and (US$25) million in the
third quarter of 2005.

For the fourth quarter of 2006, Freescale Semiconductor expects to report
revenues of US$1.535 to US$1.635 billion.  Gross margins for the fourth
quarter of 2006 are expected to be essentially in-line with the third
quarter of 2006.

                       About Freescale

Based in Austin, Texas, Freescale Semiconductor, Inc. (NYSE:FSL)
(NYSE:FSL.B) -- http://www.freescale.com/-- designs and manufactures
embedded semiconductors for the automotive, consumer, industrial, networking
and wireless markets.  Freescale Semiconductor became a publicly traded
company in July 2004.  The company has design, research and development,
manufacturing or sales operations in more than 30 countries.  In Latin
America, Freescale Semiconductor has operations in Argentina, Brazil and
Mexico.

                        *    *    *

Freescale Semiconductor's 7-1/8% Senior Notes due 2014 carry
Moody's Investors Service's Ba1 rating.

As reported in the Troubled Company Reporter on Sept. 26, 2006, Fitch
downgraded Freescale Semiconductor Inc.'s Issuer Default
Rating, senior unsecured notes, and senior unsecured bank credit facility to
'BB+' from 'BBB-' following the company's confirmation that it has entered
into a definitive agreement to be purchased by a consortium of private
equity firms for
US$17.6 billion, the largest ever technology leveraged buy-out.


FRIGORIFICO SOLEDAD: Verification of Claims Is Until Dec. 1
-----------------------------------------------------------
The court-appointed trustee for Frigorifico Soledad SRL's bankruptcy
proceeding will verify creditors' proofs of claim until Dec. 1, 2006.

The Trustee will present the validated claims in court as individual reports
on March 12, 2007.  A court in Buenos Aires will determine if the verified
claims are admissible, taking into account the Trustee's opinion and the
objections and challenges raised by Frigorifico Soledad and its creditors.

Inadmissible claims may be subject for appeal in a separate proceeding known
as an appeal for reversal.

The Trustee will also submit a general report that contains an audit of
Frigorifico Soledad's accounting and banking records will follow within
thirty working days after the individual reports have been submitted.

The Debtor can be reached at:

          Frigorificao Soledad SRL
          Santiago del Estero
          Buenos Aires, Argentina


IMPRESIONES ARCO: Claims Verification Deadline Is on December 15
----------------------------------------------------------------
Carlos D. Brezinski, a court-appointed trustee for Impresiones Arco Iris
Cordoba SA's bankruptcy case, will verify creditors' proofs of claim until
Dec. 15, 2006.

Mr. Brezinski will present the validated claims in court as individual
reports on Feb. 28, 2007.  A court in Buenos Aires will determine if the
verified claims are admissible, taking into account the Trustee's opinion
and the objections and challenges raised by Inpresiones Arco and its
creditors.

Inadmissible claims may be subject for appeal in a separate proceeding known
as an appeal for reversal.

A general report that contains an audit of Impresiones Arco's accounting and
banking records will follow on Apr. 11, 2007.

The Trustee can be reached at:

          Carlos D. Brezinski
          Lambare 1140
          Buenos Aires, Argentina


POLYMER GROUP: Finalizes Deal to Buy Spunbond Line in Argentina
---------------------------------------------------------------
Polymer Group, Inc., disclosed that it has finalized a contract with
Reifenhauser REICOFIL to purchase a state-of-the-art spunbond line for the
expansion of its Dominion Nonwovens Sudamericana SA facility near Buenos
Aires, Argentina.

The new wide-width, multi-beam line will be a Reifenhauser REICOFIL 4
spunbond line that will increase the capacity of Dominion Nonwovens.  The
new line comes in response to customers' needs for its products in the South
American region.  Continued growth in the Mercosur trading region is
increasing customer demand for the high-quality materials that Polymer Group
has built a reputation for providing at Dominion Nonwovens.

Polymer Group will begin construction of the new facility in the fourth
quarter of this year and expects to complete installation of the line by the
end of fiscal year 2007.  This will enable Dominion Nonwovens to begin
producing high-quality fine denier products for customers that meet the
highest standards in the industry.

William B. Hewitt, Polymer Group's interim chief executive officer, stated,
"Polymer Group's strategy of growing on a global basis to provide the right
products where customers need them continues to be a focus for our business.
Our strategic relationship with Reifenhauser REICOFIL has been paramount to
executing that strategy for many years and we are focused on sustaining the
mutually beneficial relationship for many years to come.  By leveraging the
industry leading strengths of each company, PGI (Polymer Group) will
continue to demonstrate its commitment to its customers and core markets."

Headquartered in Charlotte, North Carolina, Polymer Group, Inc. --
http://www.polymergroupinc.com/-- is a global, technology-driven developer,
manufacturer and marketer of engineered materials.  It has operations in
Argentina.

                        *    *    *

In connection with Moody's Investors Service's implementation of its new
Probability-of-Default and Loss-Given-Default rating methodology for the US
Consumer Products, Beverage, Toy, Natural Product Processors, Packaged Food
Processors and Agricultural Cooperative sectors, the rating agency confirmed
its B2 Corporate Family Rating for Polymer Group, Inc.

Additionally, Moody's held its B1 ratings on the company's
$45 million Senior Secured Revolver Due 2010 and $410 million Senior Secured
Term Loan B Due 2012.  Moody's assigned those
debentures an LGD3 rating suggesting lenders will experience a
33% loss in the event of default.


TANSAD SRL: Verification of Proofs of Claim Is Until Dec. 13
------------------------------------------------------------
Norma Beatriz Cacioli, a court-appointed trustee for Tansad SRL's bankruptcy
proceeding, will verify creditors' proofs of claim until Dec. 13, 2006.

Under the Argentine bankruptcy law, Ms. Cacioli is required to present the
validated claims in court as individual reports.  Court No. 5 in Buenos
Aires will determine if the verified claims are admissible, taking into
account the Trustee's opinion and the objections and challenges raised by
Tansad and its creditors.

Inadmissible claims may be subject for appeal in a separate proceeding known
as an appeal for reversal.

Ms. Cacioli will also submit a general report that contains an audit of
Tansad's accounting and banking records.  The report submission dates have
not been disclosed.

Tansad was forced into bankruptcy at the request of Cooperativa de Vivienda,
Credito y Consumo Cambio Ltda., which it owes US$5,000.

Clerk No. 9 assists the Court in the proceeding.

The Debtor can be reached at:

          Tansad SRL
          Andres Ferreyra 4169
          Buenos Aires, Argentina

The Trustee can be reached at:

          Norma Beatriz Cacioli
          Parana 723
          Buenos Aires, Argentina


TELEVISION ABC: Reorganization Proceeding Concluded
---------------------------------------------------
Television ABC SA's reorganization has ended.  Data published by Infobae on
its Web site indicated that the process was concluded after Court No. 16 in
Buenos Aires approved the debt agreement signed between the company and its
creditors.

Estudio Giacumbo Hernandez was the court-appointed trustee who supervised
the insolvency proceeding.

The Trustee can be reached at:

          Estudio Giacumbo Hernandez
          Avenida Corrientes 1250
          Buenos Aires


YPF SA: Bids US$6.12MM in San Juan Hydrocarbons Exploration
-----------------------------------------------------------
YPF SA has presented a US$6.12-million bid for the hydrocarbons exploration
in Tamberias, San Juan, over six years, Business News Americas reports.

Luis Archillo, the San Juan energy resources department engineer, told
BNamericas that YPF's economic offer surpasses the US$6 million minimum San
Juan mandated.  An evaluation committee is analyzing the offer.

As reported in the Troubled Company Reporter-Latin America on Sept. 29,
2006, San Juan said in a statement that YPF SA was the sole bidder in the
tender it launched for the exploration of seven hydrocarbons areas.  YPF
presented a bid to explore the Tamberias area.  Pan American Energy acquired
bidding rules for the areas Rio Bermejo and Talacasto.  The company,
however, did not submit a technical bid.

BNamericas previously reported that government geologists and private firms
think that Tamberias is likely to contain oil rather than gas.

Mr. Archillo told BNamericas that the San Juan government is considering
launching a new tender for the remaining six blocks in the province before
the end of 2006.

BNamericas notes that San Juan also called for exploration bids for:

          -- Iglesia,
          -- Marayes,
          -- San Agustin, and
          -- Sierra del Tigre.

Once the province decides it is unfeasible to tender all six blocks before
the end of this year, it will likely auction some of the blocks, BNamericas
states.

                        *    *    *

As reported in the Troubled Company Reporter-Latin America on
June 9, 2006, under the revised foreign currency ceilings, Moody's Investors
Service upgraded YPF Sociedad Anonima's Foreign Currency Corporate Family
Rating to B2 from B3 with negative outlook.




=============
B A H A M A S
=============



ISLE OF CAPRI: Names Julia Carcamo as Brand Mktg. Vice President
----------------------------------------------------------------
Isle of Capri Casinos, Inc., appointed Julia Carcamo as vice president of
brand marketing.

Ms. Carcamo will be responsible for brand marketing as well as advertising
and marketing communications.

Ms. Carcamo has more than 18 years of marketing and advertising experience,
with significant background in the Las Vegas and Louisiana gaming markets.
Her expertise in strategic creative development and implementation of
marketing programs are valuable assets to the Isle's marketing team.

Ms. Carcamo joins Isle of Capri from leadership positions at Wynn Resorts
and Harrah's Entertainment, where she worked to define Wynn, Harrah's, Rio
and Showboat brands.

Based in Biloxi, Miss., Isle of Capri Casinos, Inc. (Nasdaq:
ISLE) -- http://www.islecorp.com/-- a developer and owner of gaming and
entertainment facilities, operates 16 casinos in 14 locations.  The Company
owns and operates riverboat and dockside casinos in Biloxi, Vicksburg, Lula
and Natchez, Miss.; Bossier City and Lake Charles (two riverboats), La.;
Bettendorf, Davenport and Marquette, Iowa; and Kansas City and Boonville,
Mo.  The Company also owns a 57% interest in and operates land-based casinos
in Black Hawk (two casinos) and Cripple Creek, Colorado.  Isle of Capri's
international gaming interests include a casino that it operates in
Freeport, Grand Bahama, and a 2/3 ownership interest in casinos in Dudley,
Walsal and Wolverhampton, England.  The company also owns and operates
Pompano Park Harness Racing Track in Pompano Beach, Fla.

                        *    *    *

As reported in the Troubled Company Reporter on Dec. 26, 2005,
Standard & Poor's Ratings Services affirmed its ratings on Isle of Capri
Casinos Inc., including its 'BB-' corporate credit rating.  At the same
time, all ratings were removed from
CreditWatch with negative implications where they were placed on
Sept. 1, 2005.  S&P said the outlook is negative.

As reported in the Troubled Company Reporter-Latin America on Oct. 4, 2006,
in connection with Moody's Investors Service's implementation of its new
Probability-of-Default and Loss-Given-Default rating methodology for the
Gaming, Lodging & Leisure sector, the rating agency confirmed Isle of Capri
Casinos, Inc.'s Ba3 Corporate Family Rating.


ISLE OF CAPRI: Names New Corporate Vice President
-------------------------------------------------
Isle of Capri Casinos Inc. appointed Darrel Kammeyer as corporate vice
president of direct marketing and marketing technologies.

Mr. Kammeyer will be responsible for directing the company's
customer data warehouse initiative, customer relationship management
database, and all marketing technology and analysis efforts.

Mr. Kammeyer brings more than 20 years of strategic and loyalty marketing
experience both on the direct response agency and corporate side for
directing and implementing customer loyalty programs for:

   -- United Airlines,
   -- Thai Airways International,
   -- Westin Hotels and Resorts,
   -- Trusthouse Forte,
   -- Chicago Tribune,
   -- Interplay,
   -- Cal Fed,
   -- Ameristar Casinos, and
   -- Argosy Gaming Company.

Mr. Kammeyer was vice president of customer relationship management of
Mohegan Sun.

Based in Biloxi, Miss., Isle of Capri Casinos, Inc. (Nasdaq:
ISLE) -- http://www.islecorp.com/-- a developer and owner of gaming and
entertainment facilities, operates 16 casinos in 14 locations.  The Company
owns and operates riverboat and dockside casinos in Biloxi, Vicksburg, Lula
and Natchez, Miss.; Bossier City and Lake Charles (two riverboats), La.;
Bettendorf, Davenport and Marquette, Iowa; and Kansas City and Boonville,
Mo.  The Company also owns a 57% interest in and operates land-based casinos
in Black Hawk (two casinos) and Cripple Creek, Colorado.  Isle of Capri's
international gaming interests include a casino that it operates in
Freeport, Grand Bahama, and a 2/3 ownership interest in casinos in Dudley,
Walsal and Wolverhampton, England.  The company also owns and operates
Pompano Park Harness Racing Track in Pompano Beach, Fla.

                        *    *    *

As reported in the Troubled Company Reporter on Dec. 26, 2005,
Standard & Poor's Ratings Services affirmed its ratings on Isle of Capri
Casinos Inc., including its 'BB-' corporate credit rating.  At the same
time, all ratings were removed from
CreditWatch with negative implications where they were placed on
Sept. 1, 2005.  S&P said the outlook is negative.

As reported in the Troubled Company Reporter-Latin America on Oct. 4, 2006,
in connection with Moody's Investors Service's implementation of its new
Probability-of-Default and Loss-Given-Default rating methodology for the
Gaming, Lodging & Leisure sector, the rating agency confirmed Isle of Capri
Casinos, Inc.'s Ba3 Corporate Family Rating.


WINN-DIXIE: Wants Employment Pact with CEO Peter Lynch Approved
---------------------------------------------------------------
Winn-Dixie Stores, Inc., and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the Middle
District of Florida to enter into an employment agreement with
their current president and chief executive officer, Peter L.
Lynch.

The Debtors value the leadership of Mr. Lynch, and believe that
their prospects for success following emergence from bankruptcy
protection depend significantly on his continued leadership.

The Debtors also ask the Court to approve the employment
agreement's related Restricted Stock Unit Award Agreement, Non-
Qualified Stock Option Award Agreement, and Winn-Dixie Stores,
Inc. 2006 Deferred Compensation Plan.

The Employment Contract is the result of trilateral negotiations
among the Debtors, the Official Committee of Unsecured Creditors, and Mr.
Lynch, D.J. Baker, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, in New
York, relates.

The Employment Contract provides the terms for Mr. Lynch's
continued employment with the Debtors following the effective date of their
Joint Plan of Reorganization.  Material terms of the Employment Contract
include:

    -- Mr. Lynch will not only serve as the Debtors' president
       and CEO, but also as the chairman of Winn-Dixie Stores'
       board of directors;

    -- The term of Mr. Lynch's employment will commence on the
       Effective Date and will continue until June 30, 2010,
       unless terminated earlier.  Beginning July 1, 2010,
       unless terminated earlier, the Employment Contract will
       automatically be renewed and extended for additional one-
       year terms unless Mr. Lynch or Winn-Dixie objects;

    -- Mr. Lynch will receive an annual base salary of
       US$1,250,000, which will be paid in accordance with the
       Debtors' then prevailing payroll practices.  At the sole
       discretion of the Board, the Base Salary may be increased
       based on Mr. Lynch's performance;

    -- For each fiscal year ending during the term of his
       employment, Mr. Lynch will be eligible to receive an
       annual bonus if he achieves the target performance goals
       established for each year by the Board's Compensation
       Committee.  In no event will Mr. Lynch's bonus exceed
       150% of the Base Salary;

    -- In addition to any Bonus to which he is entitled, the
       Debtors will pay Mr. Lynch US$2,000,000, less all
       applicable withholding taxes, as an additional bonus for
       fiscal year 2007 following the Effective Date;

    -- Mr. Lynch will be granted Winn-Dixie Stores stock
       options, deferred compensation plan, and the company's
       restricted stock, and other long-term incentive programs;
       and

    -- The Debtors agree to indemnify Mr. Lynch in the event
       that he is made party to any action or proceeding by
       reason that, after the Effective Date, he is or was a
       Winn-Dixie director, officer or employee.

A full-text copy of Mr. Lynch's Employment Agreement is available for free
at http://ResearchArchives.com/t/s?1385

Headquartered in Jacksonville, Florida, Winn-Dixie Stores, Inc.
-- http://www.winn-dixie.com/-- is one of the nation's largest
food retailers.  The Company operates 527 stores in Florida,
Alabama, Louisiana, Georgia, and Mississippi.  The Company,
along with 23 of its US subsidiaries, filed for chapter 11 protection on
Feb. 21, 2005 (Bankr. S.D.N.Y. Case No. 05-11063, transferred Apr. 14, 2005,
to Bankr. M.D. Fla. Case Nos. 05-03817 through 05-03840).  D.J. Baker, Esq.,
at Skadden Arps Slate Meagher & Flom LLP, and Sarah Robinson Borders, Esq.,
and Brian C. Walsh, Esq., at King & Spalding LLP, represent the Debtors in
their restructuring efforts.  Paul P. Huffard at The Blackstone Group, LP,
gives financial advisory services to the Debtors.  Dennis F. Dunne, Esq., at
Milbank, Tweed, Hadley & McCloy, LLP, and John B. Macdonald, Esq., at
Akerman Senterfitt give legal advice to the Official Committee of Unsecured
Creditors.  Houlihan Lokey & Zukin Capital gives financial advisory services
to the Committee.  When the Debtors filed for protection from their
creditors, they listed $2,235,557,000 in total assets and $1,870,785,000 in
total debts.  (Winn-Dixie Bankruptcy News, Issue No. 56; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


WINN-DIXIE: Court Directs Logan to Count Votes of 14 Claimants
--------------------------------------------------------------
Brach's Confections, Inc.; Shaun Kevin Johnson, et al.; James
Girdzus, Jr.; Anna Lopiccolo; Robbie McMillan; Vicky Lynn
Whipple; Muscogee County, Georgia; and the Harrison County,
Mississippi, withdraw their requests for allowance of their
claims for voting purposes.

The U.S. Bankruptcy Court for the Middle District of Florida
grants, in part, the request of the claimants and instructs Logan and
Company, Inc., which is the voting agent, to count the ballots they have
submitted:

   (1) the Kentucky Taxing Authorities aggregating US$9,603;

   (2) Jason Lodolce, Jack Snipes and Ryan Malone, and count the
       ballot submitted by each claimant as one vote for
       purposes of numerosity and US$0 in amount;

   (3) Hamilton County, Tennessee, aggregating US$15,431;

   (4) The Estate of Plunkett, aggregating US$1,104,476;

   (5) Catamount Atlanta LLC, aggregating US$265,535;

   (6) Catamount LS-KY LLC, aggregating US$725,895;

   (7) Catamount Rockingham LLC, aggregating US$315,363;

   (8) Big Pine LLC, aggregating US$19,219;

   (9) Ocean 505 Associates LLC and Grandecks Associates LLC, as
       modified by the terms of the claim settlement reached
       between them and the Debtors.  The ballot is for
       US$342,417;

  (10) Orix Capital Markets LLC as one vote for purposes of
       numerosity and US$0 for amount;

  (11) LCH Opportunities LLC, aggregating US$217,500;

  (12) CWCapital Asset Management LLC as one vote purposes of
       numerosity and US$0 for amount;

  (13) City of Hampton, aggregating US$21,128; and

  (14) Bulloch County, Georgia, aggregating US$10,834.

The Court order is without prejudice to the Debtors' rights to
object to the claims on any basis.

               Kentucky Taxing Authorities Respond

Kentucky Taxing Authorities previously asked the Court to
temporarily allow the full amount of their claims for purposes of voting to
accept or reject Winn-Dixie Stores, Inc., and its
debtor-affiliates' Joint Plan of Reorganization.

They did not indicate their total claims.

In response to the Debtors' objection to their Rule 3018 Motion,
the Kentucky Taxing Authorities say that their tax liabilities do not meet
the requirements listed by the Debtors that would
disallow their tax claims for voting purposes.

The KTAs assert that their tax liabilities are liquidated, two of their
members timely filed proofs of claims, and that those
claims were not based on a pending lawsuit.  They also point out
that the Debtors had no objections to the entire amount of their
tax liability in any of the taxing jurisdictions.

The KTAs disagree with the Debtors' statement in their Omnibus
Response that the KTAs have filed several claims including a
secured tax claim.  Susan F. Stivers, Esq., of the Kentucky
Department of Revenue, says that it is not true that the KTAs
willingly subjected themselves to the Court's jurisdiction.

The KTAs were dragged into the Court by the Debtors' own
objections to tax liabilities under Section 505 of the Bankruptcy Code, Ms.
Stivers contends.

The KTAs ask the Court to overrule the Debtors' objection and
grant their request to temporarily allow their claims for voting
on the Debtors' Joint Plan of Reorganization.

Headquartered in Jacksonville, Florida, Winn-Dixie Stores, Inc.
-- http://www.winn-dixie.com/-- is one of the nation's largest
food retailers.  The Company operates 527 stores in Florida,
Alabama, Louisiana, Georgia, and Mississippi.  The Company,
along with 23 of its US subsidiaries, filed for chapter 11 protection on
Feb. 21, 2005 (Bankr. S.D.N.Y. Case No. 05-11063, transferred Apr. 14, 2005,
to Bankr. M.D. Fla. Case Nos. 05-03817 through 05-03840).  D.J. Baker, Esq.,
at Skadden Arps Slate Meagher & Flom LLP, and Sarah Robinson Borders, Esq.,
and Brian C. Walsh, Esq., at King & Spalding LLP, represent the Debtors in
their restructuring efforts.  Paul P. Huffard at The Blackstone Group, LP,
gives financial advisory services to the Debtors.  Dennis F. Dunne, Esq., at
Milbank, Tweed, Hadley & McCloy, LLP, and John B. Macdonald, Esq., at
Akerman Senterfitt give legal advice to the Official Committee of Unsecured
Creditors.  Houlihan Lokey & Zukin Capital gives financial advisory services
to the Committee.  When the Debtors filed for protection from their
creditors, they listed US$2,235,557,000 in total assets and US$1,870,785,000
in total debts.  (Winn-Dixie Bankruptcy News, Issue No. 56; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


WINN-DIXIE: Wants Basin Street Pact for Store # 1409 Approved
-------------------------------------------------------------
Winn-Dixie Stores, Inc., and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Middle District of Florida to approve
their agreement with Basin Street #2 Limited Partnership.  The
agreement resolves the administrative and unsecured claims
asserted by Basin Street in the Debtors' Chapter 11 cases.

Basin Street is the landlord of Winn-Dixie Store No. 1409 before
the Debtors rejected the lease effective Aug. 31, 2006.

The Lease Claims Resolution Agreement provides, among others,
that:

   (x) Within 10 days after the Court approves the agreement,
       the Debtors will pay Basin Street a one-time lease claims
       resolution payment of US$225,000.  After making this
       final tenant payment, the Debtors will have no further
       obligation to make any payment to Basin Street.  The
       parties will bear their own attorneys' fees and other
       costs;

   (y) Neither of the parties will have any obligation under the
       Lease to restore the premises to any condition, which
       existed before the agreed effective date of
       Sept. 14, 2006, thus both parties waive all rights they
       may have to any proceeds of any available insurance
       policy; and

   (z) The parties mutually release each other from all causes
       of actions, debts, or claims arising out of the Lease.

Headquartered in Jacksonville, Florida, Winn-Dixie Stores, Inc.
-- http://www.winn-dixie.com/-- is one of the nation's largest
food retailers.  The Company operates 527 stores in Florida,
Alabama, Louisiana, Georgia, and Mississippi.  The Company,
along with 23 of its US subsidiaries, filed for chapter 11 protection on
Feb. 21, 2005 (Bankr. S.D.N.Y. Case No. 05-11063, transferred Apr. 14, 2005,
to Bankr. M.D. Fla. Case Nos. 05-3817 through 05-03840).  D.J. Baker, Esq.,
at Skadden Arps Slate Meagher & Flom LLP, and Sarah Robinson Borders, Esq.,
and Brian C. Walsh, Esq., at King & Spalding LLP, represent the Debtors in
their restructuring efforts.  Paul P. Huffard at The Blackstone Group, LP,
gives financial advisory services to the Debtors.  Dennis F. Dunne, Esq., at
Milbank, Tweed, Hadley & McCloy, LLP, and John B. Macdonald, Esq., at
Akerman Senterfitt give legal advice to the Official Committee of Unsecured
Creditors.  Houlihan Lokey & Zukin Capital gives financial advisory services
to the Committee.  When the Debtors filed for protection from their
creditors, they listed US$2,235,557,000 in total assets and US$1,870,785,000
in total debts.  (Winn-Dixie Bankruptcy News, Issue No. 56; Bankruptcy
Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).




=============
B E R M U D A
=============


GLOBAL CROSSING: Provides Broadband Connectivity to OneCommunity
----------------------------------------------------------------
Global Crossing Ltd. has renewed and expanded its relationship with
OneCommunity, an ultra broadband services and applications provider for
municipal and non-profit organizations in Northeastern Ohio.

Under terms of a new agreement, Global Crossing is providing Dedicated
Internet Access services to OneCommunity to maximize their existing
infrastructure and investment and increase value to the participants in
their network.  The two companies will also jointly market Global Crossing's
enterprise Voice over Internet Protocol and IP videoconferencing offerings,
including IP Video and iVideoconferencing, to OneCommunity subscribers.

Commenting on the deal, Scot Rourke, president of OneCommunity, said,
"Global Crossing has been a reliable and consistent network partner that has
in turn enabled us to deliver quality next-generation broadband services to
community governments and nonprofits such as the Cleveland Clinic, Case
Western Reserve University and the City of Cleveland in northeastern Ohio.
Through Global Crossing, OneCommunity is expanding its future offerings to
include VoIP and IP videoconferencing services -- everything an intelligent
community requires to do business in our region and around the world."

OneCommunity has been a Global Crossing customer for the past two years and
continues to experience exponential growth each year attributed to both an
expanded customer base and substantial usage growth enabled by the
fiber-optic community network.  As an example, One Community's first
customer, Case Western Reserve University has seen usage by students,
faculty and researchers surge literally ten-fold in the past two years.  For
the first time, the two companies will also jointly market VoIP Outbound,
VoIP Local and IP video and iVideoconferencing to OneCommunity subscribers.

Mike Toplisek, Global Crossing's senior vice president of enterprise sales,
noted, "By leveraging Global Crossing's IP solutions, OneCommunity offers
its subscribers leading-edge services, further supporting the growth of
businesses and nonprofits in northeastern Ohio.  We're delighted to be a key
provider to OneCommunity and assist them in expanding their subscriber
offering to include VoIP and our award winning iVideoconferencing services."

Global Crossing Enterprise VoIP Services may be provisioned over DIA, public
Internet or fully meshed IP VPN connections, providing unlimited VoIP Local
Services and VoIP Outbound connection options to maximize flexibility and
control expenses.  Global Crossing's VoIP Local Service is a direct inward
dial service that offers local origination for nationwide local numbers
through a single IP point of interconnection as a cost-effective alternative
to traditional toll-free applications.

Global Crossing's iVideoconferencing allows customers to place ISDN calls
directly on Global Crossing's IP network and transports them directly to
service nodes around the world.  This results in increased quality and ISDN
cost reductions of 40% to 70% as compared to calls switched over traditional
voice networks. IP Video is a videoconferencing transport vehicle that uses
Global Crossing's fully meshed MPLS-based global IP VPN to augment existing
legacy infrastructure.

                   About OneCommunity

Founded in 2003, OneCommunity is a non-profit organization that serves as
northeast Ohio's platform for collaboration and innovation leveraging its
regional community fiber-optic network.  It serves research, education,
government, healthcare, culture and other nonprofit facilities via a
10-gigabit backbone with one-gigabit uplinks.  OneCommunity also partners
with leading technology businesses to develop innovative new services and
applications that drive economic development, enhanced quality of life and
create economic opportunities for the region.

                   About Global Crossing

Headquartered in Florham Park, New Jersey, Global Crossing
Ltd. -- http://www.globalcrossing.com/-- provides telecommunication
services over the world's first integrated global IP-based network, which
reaches 27 countries and more than 200 major cities around the globe
including Bermuda,
Argentina, Brazil, Chile, Mexico, Panama, Peru and Venezuela.
Global Crossing serves many of the world's largest corporations, providing a
full range of managed data and voice products and services.  The company
filed for chapter 11 protection on
Jan. 28, 2002 (Bankr. S.D.N.Y. Case No. 02-40188).  When the
Debtors filed for protection from their creditors, they listed
US$25,511,000,000 in total assets and US$15,467,000,000 in total debts.
Global Crossing emerged from chapter 11 on Dec. 9, 2003.

At June 30, 2006, Global Crossing Ltd.'s balance sheet showed US$1.87
billion in total assets and US$1.95 billion in total liabilities, resulting
to a stockholders' deficit of US$86 million.  The company reported a US$173
million stockholders' deficit on Dec. 31, 2005.


LUMINUS ENERGY: Creditors Must File Proofs of Claim by Nov. 2
-------------------------------------------------------------
Luminus Energy Partners II, Ltd.'s creditors are given until Nov. 2, 2006,
to prove their claims to Jennifer Y. Fraser, the company's liquidator, or be
excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full names,
addresses, the full particulars of their debts or claims, and the names and
addresses of their lawyers, if any.

A final general meeting will be held at the liquidator's place of business
on Nov. 22, 2006, at 10:00 a.m., or as soon as possible.

Luminus Energy's shareholders will determine during the meeting, through a
resolution, the manner in which the books, accounts and documents of the
company and of the liquidator will be disposed.

Luminus Energy's shareholders agreed on Oct. 16, 2006, to place the company
into voluntary liquidation under Bermuda's Companies Act 1981.

The liquidator can be reached at:

         Jennifer Y. Fraser
         Canon's Court, 22 Victoria Street
         Hamilton Bermuda


MAGNA PETROCHEMICALS: Proofs of Claim Must be Filed by Nov. 2
-------------------------------------------------------------
Magna Petrochemicals Ltd.'s creditors are given until Nov. 2, 2006, to prove
their claims to Jennifer Y. Fraser, the company's liquidator, or be excluded
from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full names,
addresses, the full particulars of their debts or claims, and the names and
addresses of their lawyers, if any.

A final general meeting will be held at the liquidator's place of business
on Nov. 22, 2006, at 9:30 a.m., or as soon as possible.

Magna Petrochemicals' shareholders will determine during the meeting,
through a resolution, the manner in which the books, accounts and documents
of the company and of the liquidator will be disposed.

Magna Petrochemicals' shareholders agreed on Oct. 13, 2006, to place the
company into voluntary liquidation under Bermuda's Companies Act 1981.

The liquidator can be reached at:

         Jennifer Y. Fraser
         Canon's Court, 22 Victoria Street
         Hamilton Bermuda


PANENERGY EXPLORATION: Proofs of Claim Filing Is Until Nov. 2
-------------------------------------------------------------
Panenergy Exploration and Production (Peru) Ltd.'s creditors are given until
Nov. 2, 2006, to prove their claims to Jennifer Y. Fraser, the company's
liquidator, or be excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full names,
addresses, the full particulars of their debts or claims, and the names and
addresses of their lawyers, if any.

A final general meeting will be held at the liquidator's place of business
on Nov. 22, 2006, at 11:00 a.m., or as soon as possible.

Panenergy Exploration's shareholders will determine during the meeting,
through a resolution, the manner in which the books, accounts and documents
of the company and of the liquidator will be disposed.

Panenergy Exploration's shareholders agreed on Oct. 16, 2006, to place the
company into voluntary liquidation under Bermuda's Companies Act 1981.

The liquidator can be reached at:

         Jennifer Y. Fraser
         Canon's Court, 22 Victoria Street
         Hamilton Bermuda


SEA CONTAINERS: Hires BMC Group as Claims and Balloting Agent
-------------------------------------------------------------
Sea Containers Ltd. and its debtor-affiliates obtained permission from the
U.S. Bankruptcy Court for the District of Delaware to employ BMC Group as
their noticing, claims, solicitation and balloting agent, nunc pro tunc to
Oct. 15, 2006.

Although the Debtors have not filed their schedules of assets and
liabilities, they expect that there will be hundreds of entities that they
will be required to serve with various notices, pleadings and other
documents.  The Debtors believe that BMC's appointment will expedite the
distribution of notices and relieve the Clerk's office of the administrative
burden of processing those notices.  The Debtors' estates and creditors will
also benefit from BMC's experience and cost-effective methods, Robert S.
Brady, Esq., at Young, Conaway, Stargatt & Taylor, LLP, says.

As Claims Agent, BMC is expected to:

   (a) assist the Debtors by performing administrative tasks in
       the preparation and filing of the Debtors' schedules and
       statement of financial affairs;

   (b) notify all potential creditors of the filing of the
       Chapter 11 petitions and of the setting of the first
       meeting of creditors, pursuant to Section 341 of the
       Bankruptcy Code;

   (c) file affidavits of service for all mailings, including a
       copy of each notice, a list of persons to whom that
       notice was mailed, and the date mailed;

   (d) maintain an official copy of the Debtors' Schedules, and
       a list of creditors and amounts owed;

   (e) furnish a notice of the last date of the filing of proofs
       of claim and a form for filing a proof of claim to
       creditors and parties-in-interest;

   (f) docket all claims filed and maintain the official claims
       register on behalf of the Clerk and provide to the Clerk
       an exact duplicate of that register;

   (g) specify in the claims register for each claim docket (i)
       the claim number assigned, (ii) the date received, (iii)
       the name and address of the claimant, (iv) the filed
       amount of the claim, if liquidated, and (v) the allowed
       amount of the claim;

   (h) record all transfers of claims and provide notices of the
       transfer as required pursuant to Bankruptcy Rule 3001(e);

   (i) maintain the official mailing list for all entities who
       have filed proofs of claim;

   (j) mail the Debtors' disclosure statement, plan, ballots,
       and any other related solicitation materials to holders
       of impaired claims and equity interests;

   (k) receive and tally ballots, and respond to inquiries
       respecting voting procedures and the solicitation of
       votes on the plan;

   (l) establish, maintain, and update a Web site dedicated to
       providing information on the Debtors' restructuring to
       various parties-in-interest;

   (m) establish a call center to address vendor, customer and
       employee inquiries regarding the Debtors' reorganization;
       and

   (n) provide any other distribution services as are necessary
       or required.

The Debtors will pay BMC's standard prices for its services,
expenses and supplies.  BMC agrees to cap its fees at US$150,000
for any services performed in connection with the preparation of
the Debtors' Schedules and Statements.  The Debtors will provide
BMC with a US$40,000 advance payment retainer.  The Debtors will
keep the retainer "evergreen" by making monthly payments in an
amount necessary to restore the balance of the retainer to
US$25,000.

Tinamarie Feil, president of BMC Group, assures the Court that
neither her firm nor any of its employee is connected with the
Debtors, their creditors, other parties-in-interest or the United States
Trustee or any person employed by the Office of the U.S. Trustee.

A full-text copy of the Debtors' Agreement with BMC is available
for free at http://researcharchives.com/t/s?13b8

                      About Sea Containers

Headquartered in Hamilton, Bermuda, Sea Containers Ltd. --
http://www.seacontainers.com/-- provides passenger and freight
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is
owned almost entirely by United States shareholders and its
primary listing is on the New York Stock Exchange (SCRA and
SCRB) since 1974.  On Oct. 3, the company's common shares and
senior notes were suspended from trading on the NYSE and NYSE
Arca after the company's failure to file its 2005 annual report
on Form 10-K and its quarterly reports on Form 10-Q during 2006
with the U.S. Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the US.

Sea Containers Ltd. and two subsidiaries filed for chapter 11 protection on
Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor represents the
Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they reported
US$1.7 billion in total assets and US$1.6 billion in total
debts.  (Sea Containers Bankruptcy News, Issue No. 2; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)




=============
B O L I V I A
=============


* BOLIVIA: Cerro Rico Has Estimated Market Value of US$2.2 Bil
--------------------------------------------------------------
The estimated current market value of the five veins and branches in the
Cerro Rico Mine in Bolivia are estimated at US$2.2 billion, according to
Franklin Mining, Inc.

Franklin Mining is working on a development plan for the project in the
Cerro Rico.  Upon review and approval of the development plan by Comibol,
the company will proceed with the commencement of their production plan as
it converts to an operation contract.

Corporacion Minera de Bolivia aka Comibol, the state-run mining firm in
Bolivia, relates that the five veins and branches of the project in the
Cerro Rico Mine are projected to hold about
5 million metric tons of ore, with the combined estimated reserves said to
contain about:

   -- 1,028,645 kgs of silver,
   -- 265,933 tons of zinc and over
   -- 72,377 tons of tin,

yielding approximately:

   -- 36,274,137 ounces of silver,
   -- 586,117,434 lbs of zinc and
   -- 159,518,908 lbs of tin.

The reserve value is based on current London Metal Exchange prices of
Silver, Tin and Zinc.

                 About Franklin Mining, Inc.

Franklin Mining currently has interests in Bolivia and the United States and
opened a wholly owned subsidiary in Bolivia.  Franklin Mining, Inc. Bolivian
subsidiaries include Franklin Mining, Bolivia and majority ownership in
Franklin Oil & Gas, Bolivia.

                        *    *    *

Fitch Ratings assigned these ratings on Bolivia:

                     Rating     Rating Date

   Country Ceiling    B-       Jun. 17, 2004
   Long Term IDR      B-       Dec. 14, 2005
   Local Currency
   Long Term Issuer
   Default Rating     B-       Dec. 14, 2005


* BOLIVIA: Fencomin Turns Down Comibol's Offer to Work for Firm
---------------------------------------------------------------
Fencomin, the national mining cooperative federation in Bolivia, declined an
offer from Comibol, the country's state-owned mining firm, to hire its 4,100
members as regular workers in the company, Business News Americas reports.

BNamericas relates that the government made the reconciliation offer to end
a conflict between cooperative miners and Comibol tin miners at Posokoni
hill in the Huanuni mining district near Oruro.

Alfredo Duran, the president of the Fencomin vigilance council, told
BNamericas, "We rejected the government's proposal because it is not
sustainable over time.  Also because I don't think it would be very
advisable to incorporate 4,100 cooperative miners into the government's
ridiculous budget."

According to BNamericas, Mr. Duran said that Fencomin has analyzed the type
of work the government is considering for the cooperatives.

"Based on production expectations and the outlook of the mineral prices,
[the employment offered] could last one or two years," Mr. Duran told
BNamericas.

There is doubt as to whether the cooperative miners will be willing to move
from the private sector toward being state workers at Comibol, an entity
that does not have the technical or physical capacity to absorb so many
people, BNamericas says, citing an entrepreneur.

Eduardo Chaparro, an official at the department of natural resources and
mining for the United Nation's Economic Commission for Latin America and the
Caribbean told BNamericas, "The cooperatives have their own agenda."

Published reports say that almost 1,500 miners associated with the
Karazapato and Libres cooperatives may have agreed working for Comibol in
exchange for a monthly salary of BOB3,300.

However, Mr. Duran told BNamericas that Fencomin has not received official
word on what those cooperatives decided.

"So for now, we are not going to comment on the topic until we officially
know the cooperatives' position," BNamericas notes, citing Mr. Duran.

Members of the La Salvadora and Playa Verde cooperatives will be disclosing
a decision, BNamericas states.

                        *    *    *

Fitch Ratings assigned these ratings on Bolivia:

                     Rating     Rating Date

   Country Ceiling    B-       Jun. 17, 2004
   Long Term IDR      B-       Dec. 14, 2005
   Local Currency
   Long Term Issuer
   Default Rating     B-       Dec. 14, 2005




===========
B R A Z I L
===========


BERTIN LTDA: Moody's Lifts B1 Rating on US$120 Mil. Notes to Ba3
----------------------------------------------------------------
Moody's upgraded Bertin Ltda.'s foreign currency senior unsecured rating for
its US$120 million notes due in 2008 to Ba3 from B1 and affirmed the Ba3
rating assigned to the company's US$250 million senior unsecured notes due
in 2016, following the successful completion of the US$250 million notes
transaction.  Moody's also affirmed Bertin's Ba3 global local currency
corporate family rating.  The outlook remains negative.

The upgrade of the existing foreign currency senior unsecured rating to Ba3
from B1 and the affirmation of the Ba3 rating assigned to the new issuance
were subject to the issuance of the new senior unsecured notes transaction
and to the reduction of Bertin's secured debt as a percentage of total debt
to a level at or below the 20%.  Both conditions were met following the
completion of the transaction and the company's use of proceeds from the new
bond issuance.

Headquartered in Sao Paulo, Brazil, Bertin Ltda. -- www.bertin.com.br/ -- is
one of the largest beef processing and leather exporting companies in Latin
America.  The company owns and operates other facilities to produce cleaning
products, personal protective equipment, dog toys, cans and packaging
materials using by-products of its slaughterhouses.


CHEMTURA CORP: S&P Affirms BB+ Corporate Credit Rating
------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on Middlebury,
Conn.-based Chemtura Corp. to stable from positive and affirmed the existing
'BB+' corporate credit and senior unsecured debt ratings.

The outlook revision reflects diminished expectations for the strengthening
of key cash flow protection measures because of poor profitability in
certain businesses and less-than-expected debt reduction.  Chemtura Corp.'s
progress toward the improvement of the balance sheet has been hampered in
part by payments for antitrust litigation, restructuring activities, and
debt retirement premiums.

Wesley E. Chinn, a Standard & Poor's credit analyst, said, "Still,
management's ongoing efforts to address problem operations and commitment to
strengthening the capital structure enhance prospects that credit quality
metrics can improve to the level appropriate for the current ratings perhaps
by the end of 2007."

The ratings on Chemtura Corp. incorporate the vulnerability of its operating
results to competitive pricing pressures, raw-material costs, and cyclical
markets; and weak cash flow protection measures.  These aspects are tempered
by a diversified portfolio of specialty and industrial chemical businesses
(generating annual pro forma revenues of roughly US$3.9 billion), which
reflects the July 2005 acquisition of Great Lakes Chemical Corp. for US$1.6
billion in common stock, plus the assumption of debt.  The transaction
resulted in an immediate strengthening of Chemtura Corp.'s business mix and
cash flow protection measures, because of the equity-financed acquisition of
a much higher-rated company.

Great Lakes Chemical added complementary product lines to Chemtura Corp.'s
existing plastics additives portfolio as well as recreational water
chemicals -- which has a strong market share -- and brominated flame
retardants businesses.  Key businesses of the combined company serve diverse
markets and include:

          -- plastic and specialty additives,
          -- urethane prepolymers,
          -- pool and spa chemicals,
          -- crop protection chemicals,
          -- brominated flame retardants, and
          -- petroleum additives.

A significant percentage of the sales base consists of products where
profitability is being punished by markets that are commodity-like and
highly competitive.

Consequently, the company continues to rationalize the number of customers
and products, fine-tune pricing initiatives, and reduce the cost base in
certain product lines.  Management is also seeking to shed underperforming
or noncore businesses.

                     About Chemtura Corp.

Headquartered in Middlebury, Connecticut, Chemtura Corp.
(NYSE: CEM) -- http://www.chemtura.com/-- manufactures and markets
specialty chemicals, crop protection and pool, spa and home care products.
The Company has approximately 6,400 employees around the world and sells its
products in more than 100 countries.   In Latin America, Chemtura has
facilities in Brazil and Mexico.


COMPANHIA SIDERURGICA: Will Present Bid for Corus Group
-------------------------------------------------------
Companhia Siderurgica Nacional will make a bid for Corus Group Plc, after
Tata Steel Ltd confirmed a 455 pence per share offer for Corus earlier last
week, Daily News & Analysis reports.

The Troubled Company Reporter-Latin America on Oct. 13, 2006, relates that
Pedro Galdi, an investment analyst with ABN Amro Real Corretora, said that
Companhia Siderurgica was unlikely to bid for Corus.  However, there were
rumors that Companhia Siderurgica might participate in an auction to acquire
Corus.

According to Daily News, the uncomfortable history between Companhia
Siderurgica and Corus could work in Tata's favor.

AFX News states that Corus had called off in 2002 a proposed multi-billion
merger with Companhia Siderurgica.

Tata Steel will have to increase its current 455 pence per share offer for
Corus, Daily News said.

Companhia Siderurgica Nacional is one of the lowest-cost steel producers in
the world, which is a result of its access to proprietary, high-quality iron
ore (at the Casa de Pedra mine); self-sufficiency in energy; streamlined
facilities; and logistics advantages.  This is in addition to the group's
strong market position in the fairly concentrated steel industry in Brazil.

                        *    *    *

On Jan. 26, 2006, Standard and Poor's Rating Services assigned a 'BB'
corporate credit rating on Brazilian flat carbon steelmaker Companhia
Siderurgica Nacional.

The 'BB' corporate credit rating on Companhia Siderurgica reflects the
company's exposure to volatile demand and price cycles, increasing
competition in its home and predominant market of Brazil, aggressive
dividend policy and capital investment plan, and sizable gross-debt
position.  These risks are partly offset by Companhia Siderurgica's
privileged cost position and sound operating profile, favorable market
position in Brazil, strong export capabilities to offset occasional domestic
demand sluggishness, and increasing business diversification.


OCEANIA CRUISE: Moody's Assigns B2 Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service assigned a B2 corporate family rating to Oceania
Cruise Holdings Inc.  The associated loss given default rating is LGD4, 50%;
and, the probability of default rating is B2.

Moody's also assigned ratings to several bank facilities, subject to final
documentation, that will be used to finance Oceania's acquisition of three
identical cruise ships that it currently charters.

The borrowers under the bank facility will be three newly formed
subsidiaries or Newcos that will each own one of the ships.  The Newcos are
owned by an intermediate holding company, Oceania
Cruises, Inc., that is in turn owned by Oceania.

The ratings reflect:

   -- Oceania's small market share;
   -- reliance on a small fleet of ships; and,
   -- limited operating history.

Bond ratings assigned:

   -- US$25 million 5- year, senior secured first lien revolving
      credit facility guaranteed by Oceania and Oceania Cruises
      at B1, LGD 3, 41%.

   -- US$300 million 6-year, senior secured first lien term loan
      guaranteed by Oceania and Oceania Cruises at B1, LGD 3,
      41%.

   -- US$75 million 7-year, senior secured second lien term loan
      guaranteed by Oceania and Oceania Cruises at Caa1, LGD 6,
      92%.

Oceania Cruise Holdings, Inc. owns three passenger identical
cruise ships that each have 698 berths, or 2,094 in total, operating under
the brand name of Oceania Cruises.  The Company targets the upper premium
segment of the cruise industry with destination-oriented cruises that
maximize on-shore activities.  Oceania's principal areas of operation
include the Mediterranean, Northern Europe, South America, the Caribbean and
the Far East.  The Company was formed in 2002 and began operating in 2003
when it entered into a charter (lease) arrangement to operate the first of
three ships.  Oceania is headquartered in Miami, Florida.


OCEANIA CRUISES: S&P Junks Rating on Proposed US$75 Million Loan
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned 'B' corporate
credit rating and positive outlook to Oceania Cruises Inc.

At the same time, Standard & Poor's assigned its 'B' bank loan
rating, the same as the corporate credit rating, and a recovery
rating of '2' to the US$325 million senior secured credit facility proposed
jointly by Insignia Acquisition LLC, Nautica Acquisition LLC, and Regatta
Acquisition LLC.

The bank loan and recovery ratings indicate Standard & Poor's opinion that
lenders can expect substantial (80%-100%) recovery of principal in the event
of a payment default.  The bank facility consists of a US$25 million
five-year revolving credit facility and a US$300 million six-year term loan.

Standard & Poor's also assigned its 'CCC+' rating, two notches
below the corporate credit rating, and a recovery rating of '5' to Oceania
Cruises' proposed US$75 million seven-year second-lien term loan, indicating
S&P's assessment that lenders would likely realize a negligible (0%-25%)
recovery of principal following a payment default.

Pro forma for the transaction, Oceania Cruises will have
US$375 million in debt outstanding.

Miami-headquartered Oceania Cruises currently leases and operates three
identical 698-passenger cruise vessels.  The net proceeds from the proposed
bank facilities, along with cash on the balance sheet, will be used to fund
the acquisition of these three vessels, redeem some equity, and pay
transaction expenses.  The transaction is expected to close before Nov. 30,
2006.

Peggy Hebard, Standard & Poor's credit analyst, said, "The ratings on
Oceania Cruises reflect the company's vulnerability within the cruise sector
because of its small fleet and niche market strategy, minimal cash flow
diversity with three ships, and high debt leverage.  They also take into
account the capital-intensive nature of the industry, and the travel
industry's susceptibility to economic cycles and global political events."

As a partial offset, the vessels are of high quality, and the
company has been successful in its niche segment of the industry.


PETROLEO BRASILEIRO: Inks Synthetic Oil Tech. Development Pact
--------------------------------------------------------------
Petrleo Brasileiro signed a Technological Cooperation Agreement with Compact
GTL to build and test a pilot-plant to produce synthetic oil from associated
natural gas -- produced together with the oil -- designed to be installed on
an FPS-type floating production unit, a platform that produces, processes,
stores, and offloads oil.

The three-year agreement, for US$10.6 million, involves all stages ranging
from elaborating a pilot-plant project to produce 20 barrels a day,
installing this plant on an onshore Petroleo Brasileiro test area,
evaluating its performance, and elaborating the conceptual project for an
industrial unit capable of producing 1,500 barrels a day.

The gas-to-liquids or GTL process is an important tool to make better use of
associated natural gas.  In this process, natural gas is chemically
transformed into synthetic oil.

The microchannel technology is a major innovation, particularly because it
is extremely compact.  Once the technology is viable, its reduced size will
allow the installation of GTL units on production platforms, enabling it to
be applied for the natural gas produced in offshore fields when it is not
feasible to reinject it in the reservoirs or to build pipelines for exports.
With this technology, natural gas that would otherwise be burned will be
commercially usable.

Aiming at using this technology, Petroleo Brasileiro opted to associate with
Compact GTL, which has concluded the technology's research and development
phase and is ready to begin the demonstration phase -- pilot plant design
and construction.

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro
SA was founded in 1953.  The company explores, produces, refines,
transports, markets, distributes oil and natural gas and power to various
wholesale customers and retail distributors in Brazil.

                        *    *    *

Petroleo Brasileiro SA's long-term corporate family rating is rated Ba3 by
Moody's.

                        *    *    *

Fitch Ratings assigned these ratings on Petroleo Brasileiro's senior
unsecured notes:

  Maturity Date           Amount        Rate       Ratings

  April  1, 2008      US$400,000,000    9%          BB+
  July   2, 2013      US$750,000,000    9.125%      BB+
  Sept. 15, 2014      US$650,000,000    7.75%       BB+
  Dec.  10, 2018      US$750,000,000    8.375%      BB+

Fitch upgraded the foreign currency rating of Petrobras to BB+
from BB, with positive outlook, in conjunction with Fitch's
upgrade of the long-term foreign and local currency IDRs of the
Federative Republic of Brazil to BB, from BB- on June 29, 2006.


PETROLEO BRASILEIRO: Regulator Limits Firm's Right to Operate
-------------------------------------------------------------
Guilherme Estrella, the exploration and production director of Petroleo
Brasileiro, told Folha de S Paulo that the decision of ANP, the Brazilian
hydrocarbons regulator, to limit the number of different operators in the
8th exploration licensing round limits the right of the company and other
firms to operate in an open market.

Business News Americas relates that under the bidding rules, operators will
be limited to 3 or 4 blocks within each of the 14 sectors offered at the
Nov. 28-29 auction.

According to BNamericas, the government wants to offer about 284 blocks in
the auction.

A Petroleo Brasileiro spokesperson told BNamericas, "Estrella expressed
discontent with this detail.  Petrobras (Petroleo Brasileiro) complained
about this during the public hearings, but as usual we will follow the rules
set by ANP."

Mr. Estrella expects firms to present higher bids for the blocks this year,
compared with the 2005 round, due to higher oil prices, local press states.

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro
S.A. aka Petrobras was founded in 1953.  The company explores, produces,
refines, transports, markets, distributes oil and natural gas and power to
various wholesale customers and retail distributors in Brazil.

                        *    *    *

Petroleo Brasileiro SA's long-term corporate family rating is rated Ba3 by
Moody's.

                        *    *    *

Fitch Ratings assigned these ratings on Petroleo Brasileiro's senior
unsecured notes:

  Maturity Date           Amount        Rate       Ratings

  April  1, 2008      US$400,000,000    9%          BB+
  July   2, 2013      US$750,000,000    9.125%      BB+
  Sept. 15, 2014      US$650,000,000    7.75%       BB+
  Dec.  10, 2018      US$750,000,000    8.375%      BB+

Fitch upgraded the foreign currency rating of Petrobras to BB+ from BB, with
positive outlook, in conjunction with Fitch's upgrade of the long-term
foreign and local currency IDRs of the
Federative Republic of Brazil to BB, from BB- on June 29, 2006.


PETROLEO BRASILEIRO: Unit Supplying Ethanol Biodiesel Mixture
-------------------------------------------------------------
Petroleo Brasileiro SA, a state-run oil firm of Brazil, said in a statement
that BR Ditribuidora, its fuel retailer, will supply an ethanol biodiesel
mixture to VIP, an urban transport company in Sao Paulo.

Local press says that Petroleo Brasileiro will supply diesel B-30, which is
made up of 62% diesel, 30% biodiesel and 8% ethanol.

According to reports, VIP operates about 1,880 buses in Sao Paulo.

VIP estimates its demand for the fuel at 14 million litters yearly, Business
News Americas reports.

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro
S.A. aka Petrobras was founded in 1953.  The company explores, produces,
refines, transports, markets, distributes oil and natural gas and power to
various wholesale customers and retail distributors in Brazil.

                        *    *    *

Petroleo Brasileiro SA's long-term corporate family rating is rated Ba3 by
Moody's.

                        *    *    *

Fitch Ratings assigned these ratings on Petroleo Brasileiro's senior
unsecured notes:

  Maturity Date           Amount        Rate       Ratings

  April  1, 2008      US$400,000,000    9%          BB+
  July   2, 2013      US$750,000,000    9.125%      BB+
  Sept. 15, 2014      US$650,000,000    7.75%       BB+
  Dec.  10, 2018      US$750,000,000    8.375%      BB+

Fitch upgraded the foreign currency rating of Petrobras to BB+ from BB, with
positive outlook, in conjunction with Fitch's upgrade of the long-term
foreign and local currency IDRs of the
Federative Republic of Brazil to BB, from BB- on June 29, 2006.


TAM SA: Integrates Third Airbus A330 into Fleet
-----------------------------------------------
TAM SA received another Airbus A330 subleased to an airline company in the
Middle East.  The aircraft will be integrated into the company's fleet of
intercontinental flights and will allow TAM to adjust its network to begin
operating flights between Brazil and the United Kingdom (Heathrow Airport),
beginning Oct. 28.

This is the third and last Airbus A330 reintegrated into TAM's fleet this
year.  The first aircraft was reintegrated in the last week of July.  The
second aircraft, reintegrated in August, is used to operate the second
flight to New York.

With the new aircraft, the company now operates 10 Airbus A330, bringing the
fleet to 91 aircraft, of which 69 models are Airbus -- 13 A319, 46 A320 and
10 A330.  TAM expects its fleet to achieve a minimum of 96 airplanes at the
end of 2006.

TAM's fleet plan includes the delivery of the remaining 62 A320 family
aircraft contracted from Airbus -- 15 A319, 41 A320 and 6 A330 - with
deliveries scheduled until 2010.  The company has the option of another 20
aircraft to supply market demand.

TAM's strategic plan foresees an operational fleet of 127 Airbus aircraft by
the end of 2010.

                         About TAM

TAM S.A. -- http://www.tam.com.br/-- operates regular flights to 47
destinations throughout Brazil.  It serves 72 different cities in the
domestic market through regional alliances.  TAM maintains code-share
agreements with international airline companies that allow passengers to
travel to a large number of destinations throughout the world. TAM was the
first Brazilian airline company to launch a loyalty program.  The program
has over 3.3 million subscribers and has awarded more than 3.6 million
tickets.

                        *    *    *

Fitch assigned on Aug. 8, 2006, foreign currency and local currency Issuer
Default Ratings of 'BB' to TAM S.A.  Fitch has also assigned a national
scale rating of 'A+' (bra)' to TAM.
Fitch said the Rating Outlook is Stable.


* BRAZIL: World Bank Grants US$30 Mil. to Reduce Rural Poverty
--------------------------------------------------------------
The World Bank's board of directors approved a US$30-million loan to the
State of Pernambuco in Northeast Brazil to help expand the Pernambuco Rural
Poverty Reduction Project.

John Briscoe, the World Bank Director for Brazil, said, "The additional
financing will boost community-driven, small-scale infrastructure and
income-generating investments for poor people in rural areas.  It will also
promote closer integration of rural development policies, programs and
projects at the State and municipal levels."

The project aims to assist the State of Pernambuco reduce its levels of
rural poverty by:

   -- Improving the well-being and incomes of the rural poor
      through better access to basic social and economic
      infrastructure and services, using a community-driven
      approach;

   -- Increasing the capacity of rural communities to organize
      collectively to meet their own needs; and

   -- Enhancing local governance by greater citizen
      participation and transparency in decision-making through
      the creation and strengthening of community associations
      and municipal councils.

Specifically, the loan will finance these activities:

   1. Matching grants to community associations to finance the
      implementation of about 1,100 small-scale socio-economic
      infrastructure, education, health, culture, productive,
      environmental and other investments;

   2. Technical assistance and training to mobilize and
      strengthen community associations in their role of
      identifying, preparing, operating and maintaining
      subproject investments; and

   3. Capacity-building for Municipal Councils and technical
      advice for the State Technical Unit for their expanding
      roles.

Jorge A. Munoz, the World Bank task manager for the project, "We estimate
that some 170,000 rural poor people, or about 38,000 families, will benefit
from the additional financing of this project by achieving improvements in
their quality of life and incomes.  These beneficiaries are primarily
small-holders, tenants, sharecroppers, and landless laborers, who will
identify, prepare, implement and maintain community infrastructure and
productive investments financed under the project."

The World Bank's board of directors approved on June 26, 2001, the original
loan for US$30.1 million.  The new US$30 million fixed-spread loan from the
International Bank for Reconstruction and Development has a repayment period
of 17 years, including five years of grace.

                        *    *    *

As reported on Sept. 4, 2006, Brazil's foreign currency country ceiling was
upgraded to Ba1 from Ba2 while the government's foreign- and local-currency
bond ratings were changed to Ba2 from Ba3.




===========================
C A Y M A N   I S L A N D S
===========================


ACOM FUNDING: Last Day to File Proofs of Claim Is on Oct. 30
------------------------------------------------------------
Acom Funding Co., Ltd.'s creditors are required to submit proofs of claim by
Oct. 30, 2006, to the company's liquidator:

          Yasuo Sumikawa
          Merrill Lynch Japan Securities Co., Ltd.
          Nihonbashi 1-chome Building
          1-4-1 Nihonbashi Chuo-ku
          Tokyo 103-8230, Japan

Creditors who are not able to comply with the Oct. 30 deadline won't receive
any distribution that the liquidator will make.
Creditors are required to present proofs of claim personally or through
their solicitors.

Acom Funding's shareholders agreed on Oct. 2, 2006, for the company's
voluntary liquidation under Section 135 of the Companies Law (2004 Revision)
of the Cayman Islands.


AQUARIUM (IFI): Deadline to File Proofs of Claim Is on Nov. 10
--------------------------------------------------------------
Aquarium (IFI) Ltd.'s creditors are required to submit proofs of claim by
Nov. 10, 2006, to the company's liquidator:

          Westport Services Ltd.
          P.O. Box 1111
          Grand Cayman, Cayman Islands

Creditors who are not able to comply with the Nov. 10 deadline won't receive
any distribution that the liquidator will make.
Creditors are required to present proofs of claim personally or through
their solicitors.

Aquarium (IFI)'s shareholders agreed on Oct. 3, 2006, for the company's
voluntary liquidation under Section 135 of the Companies Law (2004 Revision)
of the Cayman Islands.

Parties-in-interest may contact:

          Bonnie Willkom
          P.O. Box 1111, Grand Cayman, Cayman Islands
          Tel: (345)-949-5122
          Fax: (345)-949-7920


CB TOPPS: Last Day for Proofs of Claim Filing Is Set for Nov. 10
----------------------------------------------------------------
CB Topps Ltd.'s creditors are required to submit proofs of claim by Nov. 10,
2006, to the company's liquidators:

          David A.K. Walker
          Lawrence Edwards
          PwC Corporate Finance & Recovery (Cayman) Ltd.
          Strathvale House, George Town
          Grand Cayman, Cayman Islands

Creditors who are not able to comply with the Nov. 10 deadline won't receive
any distribution that the liquidator will make.
Creditors are required to present proofs of claim personally or through
their solicitors.

CB Topps' shareholders agreed on Sept. 28, 2006, for the company's voluntary
liquidation under Section 135 of the Companies Law (2004 Revision) of the
Cayman Islands.

Parties-in-interest may contact:

          Miguel Brown
          P.O. Box 258, George Town
          Grand Cayman, Cayman Islands
          Tel: (345) 914 8665
          Fax: (345) 949 4590


HAVERFORD (IMA): Creditors Must File Proofs of Claim by Nov. 10
---------------------------------------------------------------
Haverford (IMA) Ltd.'s creditors are required to submit proofs of claim by
Nov. 10, 2006, to the company's liquidator:

          Westport Services Ltd.
          P.O. Box 1111
          Grand Cayman, Cayman Islands

Creditors who are not able to comply with the Nov. 10 deadline won't receive
any distribution that the liquidator will make.
Creditors are required to present proofs of claim personally or through
their solicitors.

Haverford (IMA)'s shareholders agreed on Oct. 3, 2006, for the company's
voluntary liquidation under Section 135 of the Companies Law (2004 Revision)
of the Cayman Islands.

Parties-in-interest may contact:

          Bonnie Willkom
          P.O. Box 1111, Grand Cayman, Cayman Islands
          Tel: (345)-949-5122
          Fax: (345)-949-7920


ICEBERG (IFI): Proofs of Claim Filing Deadline Is on Nov. 10
------------------------------------------------------------
Iceberg (IFI) Ltd.'s creditors are required to submit proofs of claim by
Nov. 10, 2006, to the company's liquidator:

          Westport Services Ltd.
          P.O. Box 1111
          Grand Cayman, Cayman Islands

Creditors who are not able to comply with the Nov. 10 deadline won't receive
any distribution that the liquidator will make.
Creditors are required to present proofs of claim personally or through
their solicitors.

Iceberg (IFI)'s shareholders agreed on Oct. 3, 2006, for the company's
voluntary liquidation under Section 135 of the Companies Law (2004 Revision)
of the Cayman Islands.

Parties-in-interest may contact:

          Bonnie Willkom
          P.O. Box 1111, Grand Cayman, Cayman Islands
          Tel: (345)-949-5122
          Fax: (345)-949-7920


LEATHER INVESTMENTS: Filing of Proofs of Claim Is Until Nov. 6
--------------------------------------------------------------
Leather Investments Ltd.'s creditors are required to submit proofs of claim
by Nov. 6, 2006, to the company's liquidator:

          Westport Services Ltd.
          P.O. Box 1111
          Grand Cayman, Cayman Islands

Creditors who are not able to comply with the Nov. 6 deadline won't receive
any distribution that the liquidator will make.
Creditors are required to present proofs of claim personally or through
their solicitors.

Leather Investments' shareholders agreed on Sept. 22, 2006, for the
company's voluntary liquidation under Section 135 of the Companies Law (2004
Revision) of the Cayman Islands.

Parties-in-interest may contact:

          Bonnie Willkom
          P.O. Box 1111, Grand Cayman, Cayman Islands
          Tel: (345)-949-5122
          Fax: (345)-949-7920


MINIMAX INVESTMENTS: Proofs of Claim Filing Is Until Nov. 6
-----------------------------------------------------------
Minimax Investments Ltd.'s creditors are required to submit proofs of claim
by Nov. 6, 2006, to the company's liquidator:

          Westport Services Ltd.
          P.O. Box 1111
          Grand Cayman, Cayman Islands

Creditors who are not able to comply with the Nov. 6 deadline won't receive
any distribution that the liquidator will make.
Creditors are required to present proofs of claim personally or through
their solicitors.

Minimax Investments' shareholders agreed on Sept. 22, 2006, for the
company's voluntary liquidation under Section 135 of the Companies Law (2004
Revision) of the Cayman Islands.

Parties-in-interest may contact:

          Bonnie Willkom
          P.O. Box 1111, Grand Cayman, Cayman Islands
          Tel: (345)-949-5122
          Fax: (345)-949-7920


MOSBY EQUITY: Creditors Must Submit Proofs of Claim Until Nov. 6
----------------------------------------------------------------
Mosby Equity Ltd.'s creditors are required to submit proofs of claim by Nov.
6, 2006, to the company's liquidator:

          Westport Services Ltd.
          P.O. Box 1111
          Grand Cayman, Cayman Islands

Creditors who are not able to comply with the Nov. 6 deadline won't receive
any distribution that the liquidator will make.
Creditors are required to present proofs of claim personally or through
their solicitors.

Mosby Equity's shareholders agreed on Sept. 26, 2006, for the company's
voluntary liquidation under Section 135 of the Companies Law (2004 Revision)
of the Cayman Islands.

Parties-in-interest may contact:

          Ica Eden
          P.O. Box 1111, Grand Cayman, Cayman Islands
          Tel: (345)-949-5122
          Fax: (345)-949-7920


MOSBY LTD: Deadline for Proofs of Claim Filing Is Set for Nov. 6
----------------------------------------------------------------
Mosby Ltd.'s creditors are required to submit proofs of claim by Nov. 6,
2006, to the company's liquidator:

          Westport Services Ltd.
          P.O. Box 1111
          Grand Cayman, Cayman Islands

Creditors who are not able to comply with the Nov. 6 deadline won't receive
any distribution that the liquidator will make.
Creditors are required to present proofs of claim personally or through
their solicitors.

Mosby Ltd.'s shareholders agreed on Sept. 26, 2006, for the company's
voluntary liquidation under Section 135 of the Companies Law (2004 Revision)
of the Cayman Islands.

Parties-in-interest may contact:

          Ica Eden
          P.O. Box 1111, Grand Cayman, Cayman Islands
          Tel: (345)-949-5122
          Fax: (345)-949-7920


REVIVAL (IMA): Creditors Have Until Nov. 10 to File Claims
----------------------------------------------------------
Revival (IMA) Ltd.'s creditors are required to submit proofs of claim by
Nov. 10, 2006, to the company's liquidator:

          Westport Services Ltd.
          P.O. Box 1111
          Grand Cayman, Cayman Islands

Creditors who are not able to comply with the Nov. 10 deadline won't receive
any distribution that the liquidator will make.
Creditors are required to present proofs of claim personally or through
their solicitors.

Revival (IMA)'s shareholders agreed on Oct. 3, 2006, for the company's
voluntary liquidation under Section 135 of the Companies Law (2004 Revision)
of the Cayman Islands.

Parties-in-interest may contact:

          Bonnie Willkom
          P.O. Box 1111, Grand Cayman, Cayman Islands
          Tel: (345)-949-5122
          Fax: (345)-949-7920




=========
C H I L E
=========


AES CORP: Appoints John McLaren as Executive Vice President
-----------------------------------------------------------
The AES Corp.'s board of directors appointed John McLaren as the firm's
Executive Vice President and Regional President of Europe and Africa on Oct.
13, 2006.

Mr. McLaren served as:

          -- Vice President of Operations for AES Europe and
             Africa from 2003-2006 (and AES Europe, Middle East
             and Africa from May 2005-January 2006),

          -- AES Group Manager for Operations in Europe and
             Africa from 2002-2003,

          -- AES Project Director from 2000-2002, and

          -- Business Manager for AES Medway Operations Ltd.
             from 1997-2000.

Mr. McLaren joined the company in 1993.  The company has not entered into an
employment agreement with him in connection with his appointment.

Mr. McLaren will assume the role of Regional President of Europe and Africa
from Shahzad Qasim.  Meanwhile, Mr. Qasim will continue with the company as
an Executive Vice President, focusing on business development work.

AES Corp. -- http://www.aes.com/-- is a global power company.
The Company operates in South America, Europe, Africa, Asia and the
Caribbean countries.  Generating 44,000 megawatts of electricity through 124
power facilities, the company delivers electricity through 15 distribution
companies.

AES Corp.'s Latin America business group is comprised of generation plants
and electric utilities in Argentina, Brazil, Chile, Colombia, Dominican
Republic, El Salvador, Panama and Venezuela.  Fuels include biomass, diesel,
coal, gas and hydro.  The group also pursues business development activities
in the region.  AES has been in the region since May 1993, when it acquired
the CTSN power plant in Argentina.

                        *    *    *

As reported in the Troubled Company Reporter on May 25, Fitch affirmed The
AES Corp.'s Issuer Default Rating at 'B+'.  Fitch also affirmed and withdrew
the ratings for the company's junior convertible debt.  Fitch said the
rating outlook for all remaining instruments is stable.

In March, Standard & Poor's Ratings Services raised its corporate credit
rating on diversified energy company The AES Corp. to 'BB-' from 'B+'.  S&P
said the outlook is stable.


GERDAU SA: Chilean Unit Upgrading Plant in 2007 to Boost Output
---------------------------------------------------------------
Gerdau Aza, a subsidiary of Gerdau SA in Chile, will conduct upgrades at its
plant in 2007 to raise production to 550,000 tons per year from the 400,000
tons yearly, Business News Americas reports.

BNamericas states that Gerdau Aza's two plants are located north of
Santiago, in Renca and Colina.  They can function with diesel and natural
gas simultaneously.

Hermann Von Malhenbrock, president of Gerdau Aza, told BNamericas, "Sometime
in July and August 2007, we will be stopping the plant to make an important
change in the steelmaking process and from there move on with the plan to
turn out 550,000t/y (tons per year)."

"We expect the plant to be ready to reach that production in 2008," Mr. Von
Malhenbrock further said in the report.

BNamericas relates that Gerdau Aza has invested almost US$35 million.  This
is the first of two expected investments.

After reaching the 550,000 tons of production, Gerdau SA will start a second
stage, investing about US$90 million to increase production to 750,000 tons
per year in 2010, BNamericas notes.

Gerdau Aza told BNamericas that it must be able to process over 75,000 tons
per month of scrap to reach these goals.  Since it is processing about
40,000 tons, it needs to boost smelting and rolling capacity.

Gerdau Aza's additional production will stay in the domestic market,
BNamericas says, citing Mr. Von Malhenbrock.

BNamericas underscores that Gerdau Aza exports about 8% of its production.

Gerdau Aza expects to start using liquefied natural gas in its processes in
2008, BNamericas says, citing Mr. Von Malhenbrock.

Mr. Von Malhenbrock told BNamericas, "It should give us a more standardized
supply.  It is more expensive than natural gas but more stable."

BNamericas emphasizes that Gerdau Aza will use liquefied natural gas because
Argentina, Chile's principal supplier of natural gas, started to limit in
2005 the natural gas it supplies.

Gerdau Aza has been dependent upon diesel, which is more costly, BNamericas
relates.

The report says that Gerdau Aza expects more efficient processes with the
change.

"The most complicated part is changing over from gas to diesel and vice
versa.  It causes tremendous inefficiency," Mr. Von Malhenbrock told
BNamericas.

Headquartered in Porto Alegre, Brazil, Gerdau S.A. --
http://www.gerdau.com.br/-- produces and distributes crude steel and
related long rolled products, drawn products, and long
specialty products.  In addition to Brazil, Gerdau operates in
Argentina, Canada, Chile, Colombia, Uruguay and the United
States.

Gerdau's four majority-owned Brazilian operating subsidiaries
are:

   -- Acominas,
   -- Gerdau Acos Longos S.A.,
   -- Gerdau Acos Especiais S.A. and
   -- Gerdau Comercial de Acos S.A.;

                        *    *    *

Gerdau SA's US$600 million 8-7/8% perpetual bond is rated Ba1 by
Moody's, BB+ by S&P, and BB- by Fitch.

                        *    *    *

As reported in the Troubled Company Reporter on March 3, 2006,
Standard & Poor's Ratings Services raised its foreign currency
counterparty credit rating on Banco Nacional de Desenvolvimento Economico e
Social S.A. aka BNDES to 'BB' with a stable outlook from 'BB-' with a
positive outlook.  The company's local currency credit rating was also
shifted to 'BB+' with a stable outlook from 'BB' with a positive outlook.


GOODYEAR TIRE: Names New North American Unit Vice President
-----------------------------------------------------------
The Goodyear Tire & Rubber Co. appointed Johann Finkelmeier as vice
president and general manager of original equipment tires in the company's
North American Tire unit.  Mr. Finkelmeier will report to Larry Mason,
Goodyear Tire's North American president of consumer tires.

Mr. Finkelmeier has more than 20 years of experience in the automotive
industry.  He most recently served at Akebono North America as executive
vice president, global strategy & business development OE/OES sales.  Prior
to his post at Farmington Hills, Michigan-based Akebono, Mr. Finkelmeier was
president of ThyssenKrupp Steel North America in Detroit.  He also worked in
various positions at Kloeckner & Co. -- an international multi-metal
distribution firm -- and served as president of the Northern Group of
KloecknerNamasco Corp., in Roseville, Mich.

Mr. Finkelmeier will maintain offices in Goodyear Tire's corporate
headquarters in Akron, along with the company's OE office in Southfield,
Michigan.

Mr. Finkelmeier replaces Michael A. Parnell, who served as vice president,
original equipment sales, for Goodyear Tire's North American Tire business
for the past two years.

                     About Goodyear Tire

Headquartered in Akron, Ohio, The Goodyear Tire & Rubber Co.
(NYSE: GT) -- http://www.goodyear.com/-- manufactures tires, engineered
rubber products and chemicals in more than 90 facilities in 28 countries.
It has marketing operations in almost every country around the world
including Chile, Colombia and Guatemala in Latin America.  Goodyear employs
more than 80,000 people worldwide.

                        *    *    *

As reported in the Troubled Company Reporter on June 8, 2006,
Fitch affirmed The Goodyear Tire & Rubber Co.'s Issuer Default Rating at
'B'; US$1.5 billion first lien credit facility at 'BB/RR1'; US$1.2 billion
second lien term loan at 'BB/RR1';
US$300 million third lien term loan at 'B/RR4'; US$650 million third lien
senior secured notes at 'B/RR4'; and Senior Unsecured Debt at 'CCC+/RR6'.

As reported in the Troubled Company Reporter on June 23, 2005,
Moody's Investors Service assigned a B3 rating to Goodyear Tire
& Rubber Co.'s US$400 million ten-year senior unsecured notes.

As reported in the Troubled Company Reporter on June 22, 2005,
Standard & Poor's Ratings Services assigned its 'B-' rating to
Goodyear Tire & Rubber Co.'s US$400 million senior notes due
2015 and affirmed its 'B+' corporate credit rating.


NOVA CHEMICALS: Moody's Lowers Corporate Family Rating to Ba3
-------------------------------------------------------------
Moody's Investors Service downgraded NOVA Chemicals Corp.'s corporate family
rating and its senior unsecured debt ratings to Ba3 from Ba2.  Moody's also
affirmed NOVA Chemicals' speculative grade liquidity rating at SGL-3 and the
company's LGD assessments.  The rating outlook is negative.

Moody's downgraded these ratings:

   -- Corporate Family Rating, to Ba3 from Ba2;

   -- Probability of Default Rating, to Ba3 from Ba2;

   -- US$400 million Floating Rate Global Sr. Unsec. Notes due
      Nov. 2013, to Ba3 from Ba2;

   -- US$400 million 6.5% Global Sr. Unsec. Notes due Jan. 2012,
      to Ba3 from Ba2;

   -- US$125 million 7.25% Sr. Unsec. Debentures due  Jan. 2028,
      to Ba3 from Ba2; and

   -- US$100 million 7.875% Sr. Unsec. Debentures due Sept.
      2025, to Ba3 from Ba2.

Moody's affirmed these ratings:

   -- Loss Given Default Assessments for all rated unsecured
      debt, LGD4; and

   -- Speculative Grade Liquisity Rating, SGL-3.

The ratings downgrades reflects Moody's belief that NOVA Chemicals will fall
short of expected peak metrics, including EBITDA and free cash flow
generation, in 2006 and hence its through-the-cycle average metrics are not
sufficient to support a Ba2 rating.  Although NOVA Chemicals' Olefin
business generated a record US$255 million of EBITDA -- excluding US$17
million of unrecognized hedging losses -- during the quarter, largely due to
the unprecedented feedstock differential versus Gulf Coast producers, the
consolidated EBITDA failed to exceed US$200 million and the company was free
cash flow negative by more than US$100 million.  As a result, the company's
balance sheet debt and usage under the accounts receivable facility
increased above US$2.25 billion for the first time in five years.  At this
point in the cycle, Moody's does not believe that debt should be approaching
near record levels, given the potential future volatility in earnings.

When using Moody's Chemical Industry Rating Methodology, NOVA Chemicals'
metrics map to a very weak "Ba" rating.  The negative outlook reflects
uncertainties over NOVA Chemicals' future financial performance given the
anticipated downturn in the ethylene and polyethylene margins over the next
several years and its ability to generate financial metrics that solidly
support the Ba3 corporate family rating with its current debt load.  The key
ratings drivers are Financial Strength, Management Strategy and Business
Profile.  If NOVA Chemicals is unable to keep EBITDA above US$450-500
million per year and reduce debt by over US$300 million during the next two
years, Moody's could reassess the appropriateness of the company's Ba3
corporate family rating.

NOVA Chemicals reported revenues of US$6.3 billion for the last twelve
months ending Sept. 30, 2006.

Headquartered in Calgary, Alberta, Canada, Nova Chemicals Co. --
www.novachem.com/ -- is a leading producer of ethylene, polyethylene,
styrene, polystyrene, and expanded polystyrene.  NOVA Chemicals'
manufacturing sites are strategically situated throughout Canada, the US and
South America.  Its South American operations are located in Chile.




===============
C O L O M B I A
===============


ARMOR HOLDINGS: Posts US$563 Mil. Third Quarter 2006 Revenues
-------------------------------------------------------------
Revenues of Armor Holdings Inc. increased 26% to US$563 million in the third
quarter of 2006, compared with the US$448 million recorded in the same
period of 2005.

Armor Holdings' net income for the third quarter of 2006 was US$21 million,
compared with the US$26 million reported in the third quarter last year.

Excluding the impact of the Stewart & Stevenson acquisition and a number of
other operating and non-operating items in both periods, Armor Holdings' net
income was US$27 million for the three months ended Sept. 30, 2006.  In the
same period in 2005, Armor Holdings' net income was US$38 million.

Robert R. Schiller, the President and Chief Operating Officer of Armor
Holdings, Inc., commented, "While we were disappointed by lower than
previously anticipated third quarter revenue and earnings, we are encouraged
by a number of positive developments during the third quarter.  We announced
during the quarter approximately US$900 million of new contracts, of which
approximately US$700 million were funded and our overall backlog increased.
The Stewart & Stevenson integration is proceeding smoothly and ahead of
plan, and achieving gross margins slightly better than we had anticipated.
Also, the company's consolidated free cash flow is ahead of plan for 2006."

Mr. Schiller stated, "We are working diligently to improve efficiencies and
mitigate ramp-up costs that occurred during the third quarter so that we
better position the business for incremental capacity in 2007, as the US
military continues to upgrade its tactical wheeled vehicle fleet and invest
in life-safety and survivability equipment for the force.  Our long-standing
partnership with AM General on the Up-Armored HMMWV remains strong, and we
are excited about our recently announced teaming agreement with Lockheed
Martin on the Joint Light Tactical Vehicle program. We believe that our
balance sheet, cash flow generation, product diversity and growth-oriented
culture will enable us to continue to expand and develop our business."

Armor Holdings' internal revenue growth/(decline) -- assuming that
businesses acquired after June 30, 2005, were owned effective July 1,
2005 -- was (10%), including 0.2% impact for foreign currency movements.
Internal revenue growth/(decline) by segment, including foreign currency
movements, was (11%) for the Aerospace & Defense Group, 6% for the Products
Group and (24%) for the Mobile Security Division from the same period last
year.  The Aerospace & Defense Group internal revenue decline was primarily
due to the completion of several heavy truck armoring contracts including
the MTVR contract, which ended before the beginning of the third quarter, as
well as the shift of certain supplemental armor and soldier equipment
shipments to the fourth quarter and next year.  The Products Group internal
revenue increase was primarily due to higher sales of domestic body armor.
The Mobile Security Division internal revenue decline was primarily due to a
continuing shortage of available base units and slower demand in the Middle
East.

Armor Holdings' gross profit margin in the third quarter was 18.6% versus
22.2% in the year-ago quarter.  The reduction resulted primarily from the
acquisition of Stewart & Stevenson, which operates at lower average gross
margins.  This factor also impacted the Aerospace & Defense Group's gross
margins, which declined to 15.2% versus 19.5% in the year-ago quarter.

However, excluding the impact of the Stewart & Stevenson acquisition, the
Aerospace & Defense Group's gross margins improved versus the prior year.

The Products Group's gross margins increased to 39.9% versus 36.2% in the
year-ago quarter due to select selling price increases, continued expansion
of lean manufacturing initiatives, increased utilization of our lower-cost
manufacturing plants, and improved outsourcing of externally manufactured
products.

The Mobile Security Division's gross margins decreased to 14.6% from 20.7%
in the same period last year, primarily due to decreased overhead absorption
caused by reduced production through-put and a less profitable sales mix.

Armor Holdings' selling, general and administrative expenses as a percentage
of revenue increased to 9.5% versus 7.8% in the year-ago quarter.  The
increase was primarily due to greater investment in research and development
and in sales and marketing, as well as higher legal fees.

Armor Holdings' earnings before interest, taxes, depreciation and
amortization for the third quarter of 2006 increased by 14% to US$54
million, compared with the US$47 million in the same period of 2005.

Armor Holdings' cash flow (used in)/provided by operating activities for the
third quarter of 2006 was US$96 million, compared with the US$1 million in
the third quarter of 2005.  Free cash flow, defined as net cash provided by
operating activities less purchases of property and equipment, was US$89
million versus (US$1) million in the same period last year.

                  Year to Date Results

For the nine months ended Sept. 30, 2006, Armor Holdings reported revenue of
US$1,560 million, an increase of 32%from US$1,184 million in the nine months
ended Sept. 30, 2005.  Net income for the nine-months ended Sept. 30, 2006,
was US$97 million compared with the US$95 million for the nine months ended
Sept. 30, 2005.

Excluding the impact of the Stewart & Stevenson acquisition and a number of
other operating and non-operating items in both periods, Armor Holdings' net
income was US$110 million for the nine months ended Sept. 30, 2006, compared
with the
US$105 million net income for the comparable period in 2005.

Armor Holdings' internal revenue growth -- assuming that businesses acquired
after Dec. 31, 2004, were owned effective Jan. 1, 2005 -- was 10%, including
zero impact for foreign currency movements.  Internal revenue
growth/(decline) by segment, including foreign currency movements, was 16%
for the Aerospace & Defense Group and 4% for the Products Group, while the
Mobile Security Division internal revenue decline of (30%) from the same
period last year was primarily due to production disruption caused by model
changes for key base units and slower demand in the Middle East.

Armor Holdings' gross profit margin for the nine-months ended Sept. 30,
2006, decreased to 20.6%, compared with the 24.2% in the nine-month period
of 2005.  The reduction in gross margins resulted primarily from the
acquisition of Stewart & Stevenson, which operates at lower average gross
margins.  As a result, the Aerospace & Defense Group's gross margins
decreased to 17.1% versus 21.2% in the year-ago nine-month period.  However,
excluding the impact of Stewart & Stevenson, gross margins declined only
slightly versus the prior year period.  The Products Group's gross margins
increased to 39.7% versus 37.4% in the year-ago nine-month period due to
select selling price increases, continued expansion of lean manufacturing
initiatives, increased utilization of our lower-cost manufacturing plants,
and improved outsourcing of externally manufactured products.  The Mobile
Security Division's gross margins decreased to 19.5% from 23.4% in the same
period last year, primarily due to decreased overhead absorption caused by
reduced production through-put and a less profitable sales mix.

Armor Holdings' selling, general and administrative expenses as a percentage
of revenue improved to 8.7% versus 8.8% in the year-ago quarter.  This
improvement was primarily due to the inclusion of the Stewart & Stevenson
business, which operates with lower average operating expenses as a
percentage of revenue, and partially offset by additional investments in
research and development and in sales and marketing, as well as higher legal
fees and FAS 123(R) expenses.

Earnings before interest, taxes, depreciation and amortization for the
nine-months ended Sept. 30, 2006, increased by 17% to US$197 million,
compared with the US$169 million in the same period in 2005.

Cash flow provided by operating activities for the nine-months ended Sept.
30, 2006, was US$110 million versus US$59 million in the year-ago comparable
period.  Free cash flow, defined as net cash provided by operating
activities less purchases of property and equipment, was US$87 million for
the nine-months ended
Sept.  30, 2006, compared with the US$48 million in the same period last
year.

                      Balance Sheet

As of Sept. 30, 2006, Armor Holdings reported cash, cash equivalents,
short-term investment securities and equity-based securities of US$8 million
compared with US$500 million on
Dec. 31, 2005.  Cash equivalents on Dec. 31, 2005, excluded US$29 million
that was invested in equity-based securities, which was reflected on our
balance sheet as a long-term asset in accordance with US Generally Accepted
Accounting Principles.   Total debt -- short-term, current portion and
long-term -- was US$735 million on Sept. 30, 2006, compared with the US$497
million on Dec. 31, 2005.  The aggregate of cash, cash equivalents and
short-term investment securities declined and total debt increased during
the nine-month period ending
Sept. 30, 2006, primarily to fund the acquisition of Stewart & Stevenson.
Armor Holdings repaid a net US$110 million on its revolving line of credit
during the three-months ended
Sept. 30, 2006.

Headquartered in Jacksonville, Florida, Armor Holdings, Inc. --
www.armorholdings.com/ -- manufactures and distributes security products and
vehicle armor systems for the law enforcement, military, homeland security,
and commercial markets.  The company's mobile security division are located
in Mexico, Venezuela, Colombia and Brazil.

                        *    *    *

In connection with Moody's Investors Service's implementation of its new
Probability-of-Default and Loss-Given-Default rating methodology, the rating
agency confirmed its Ba3 Corporate Family Rating for Armor Holdings Inc.

Additionally, Moody's affirmed its B1 ratings on the company's
2% Convertible Senior Subordinated Notes Due 2024 and 8.25% Senior
Subordinated Notes Due 2013.  Moody's assigned those debentures an LGD5
rating suggesting noteholders will experience a 77% loss in the event of
default.


ARMOR HOLDINGS: Acquires Schroth Safety Products for US$28.6MM
--------------------------------------------------------------
Armor Holdings, Inc., has acquired Schroth Safety Products for US$28.6
million in cash.  The acquisition is expected to be accretive to Armor
Holdings' earnings per share on estimated 2007 revenue of approximately
US$39 million.

Founded in 1946, Schroth Safety has become a technical leader in the
research, development and innovation of occupant retention and restraint
systems. With facilities in Arnsberg, Germany and Pompano Beach, Florida,
Schroth Safety has established itself as a leading global supplier of
restraint systems.  These systems are used in military tactical wheeled
vehicles, or military and commercial rotary wing and fixed wing aviation
platforms, and professional auto racing vehicles for both the NASCAR and
Formula 1 racing circuits.  Schroth Safety will be integrated into the Armor
Holdings Aerospace & Defense Group.

Robert R. Schiller, the President and Chief Operating Officer of Armor
Holdings, Inc., commented, "This acquisition continues our strategy of
acquiring leading safety and survivability products and systems. Combined
with our crashworthy seating systems business, we expect to enhance our
leadership in occupant protection systems across an increasing number of
end-user platforms.  Further, we hope to expand Schroth's occupant safety
systems business in commercial aviation, business jet and auto racing
markets.  We are proud to add this strong business and well-recognized and
respected brand to our family of products. Similarly, we are excited to
welcome Carl Schroth and Schroth's employees to the Armor Holdings team."

Robert Mecredy, the President of the Armor Holdings Aerospace & Defense
Group, said, "We hope to leverage Schroth's current position as a
sole-source supplier of gunner restraints for the HMMWV and the FMTV into
additional military vehicle restraint opportunities.  We will also look to
enhance our respective OEM aviation relationships to capture additional
occupant safety programs for military and commercial airplane and helicopter
platforms.  We believe that the addition of Schroth to the Armor Holding
Aerospace & Defense Group will enable us to extend our commitment to
protecting the lives of our men and women in uniform."

Headquartered in Jacksonville, Florida, Armor Holdings, Inc. --
www.armorholdings.com/ -- manufactures and distributes security products and
vehicle armor systems for the law enforcement, military, homeland security,
and commercial markets.  The company's mobile security division are located
in Mexico, Venezuela, Colombia and Brazil.

                        *    *    *

In connection with Moody's Investors Service's implementation of its new
Probability-of-Default and Loss-Given-Default rating methodology, the rating
agency confirmed its Ba3 Corporate Family Rating for Armor Holdings Inc.
Additionally, Moody's revised its probability-of-default ratings and
assigned loss-given-default ratings on these loans and bond debt
obligations:

                                                   Projected
                        Old POD  New POD  LGD      Loss-Given
   Debt Issue           Rating   Rating   Rating   Default

   2% Convertible
   Sr. Subordinated
   Notes due 2024          B1       B1     LGD5        77%

   8.25% Sr. Subor.
   Notes due 2013          B1       B1     LGD5        77%


GERDAU SA: Analyst Says Acerias Paz Acquisition Good for Firm
-------------------------------------------------------------
An analyst with brokerage Planner told Business News Americas that Gerdau
SA's possible acquisition of shares in Acerias Paz del Rio, a steelmaker in
Colombia, could be good for Gerdau.

As reported in the Troubled Company Reporter-Latin America on Oct. 20, 2006,
a press official of Gerdau said that the company is analyzing plans on
making a bid for 42.5% stake in Acerias Paz.  The stake is for sale as a
share package through:

          -- Acerias Paz workers, who hold 33.4% in the firm;

          -- IFI, Colombia's industrial development institute,
             which holds 6.9%; and

          -- the Colombian finance ministry, which holds 2.2%.

BNamericas previously reported that Latinvestco is in charge of closing the
sale.  The firm started the search for interested bidders in August.

The analyst told BNamericas, "From what I have studied, this acquisition
could be interesting and good business for Gerdau.  Gerdau has a strategy to
expand its market share little by little through the mini mills
acquisitions."

According to BNamericas, the analyst said that the acquisition of Acerias
Paz would contribute to boosting the steel output of Gerdau within South
America.

The analyst told BNamericas that Gerdau would most likely see its production
increase in Colombia if the shares acquisition is successful.

Gerdau controls Colombian steel companies Diaco and Sidelpa, BNamericas
states.

Headquartered in Porto Alegre, Brazil, Gerdau S.A. --
http://www.gerdau.com.br/-- produces and distributes crude steel and
related long rolled products, drawn products, and long specialty products.
In addition to Brazil, Gerdau operates in Argentina, Canada, Chile,
Colombia, Uruguay and the United States.

Gerdau's four majority-owned Brazilian operating subsidiaries are:

   -- Acominas,
   -- Gerdau Acos Longos S.A.,
   -- Gerdau Acos Especiais S.A. and
   -- Gerdau Comercial de Acos S.A.;

                        *    *    *

Gerdau SA's US$600 million 8-7/8% perpetual bond is rated Ba1 by
Moody's, BB+ by S&P, and BB- by Fitch.

                        *    *    *

As reported in the Troubled Company Reporter on March 3, 2006,
Standard & Poor's Ratings Services raised its foreign currency counterparty
credit rating on Banco Nacional de Desenvolvimento Economico e Social S.A.
aka BNDES to 'BB' with a stable outlook from 'BB-' with a positive outlook.
The company's local currency credit rating was also shifted to 'BB+' with a
stable outlook from 'BB' with a positive outlook.




===================
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===================


ARMSTRONG WORLD: Starts New York Stock Exchange Regular Trading
---------------------------------------------------------------
Armstrong World Industries, Inc., began the "regular way" trading of its
shares of its common stock on the New York Stock Exchange on Oct. 18, 2006.

On Oct. 16, Armstrong closed on:

   (i) a US$300 million term loan with a five-year maturity; and
  (ii) a US$500 million term loan with a seven-year maturity.

The proceeds of the Term Loans are being used to fund distributions under
its court-approved "Fourth Amended Plan of Reorganization, as Modified,"
dated Feb. 21, 2006, and for fees and expenses.

Based in Lancaster, Pennsylvania, Armstrong World Industries,
Inc. -- http://www.armstrong.com/-- the major operating subsidiary of
Armstrong Holdings, Inc., designs, manufactures and sells interior floor
coverings and ceiling systems, around the world.

The company has Asia-Pacific locations in Australia, China, Hong
Kong, Indonesia, Japan, Malaysia, Philippines, Singapore, South
Korea, Taiwan, Thailand and Vietnam.  It also has locations in
Colombia, Costa Rica, Greece and Iceland, among others.

                        *    *    *

As reported in the Troubled Company Reporter-Latin America on Oct. 10, 2006,
Standard & Poor's Ratings Services raised its corporate credit rating on
Armstrong World Industries Inc. to 'BB' from 'D', following the building
products company's emergence from bankruptcy on Oct. 2, 2006.  S&P said the
outlook is stable.

The 'BB' senior secured bank loan rating and the '2' recovery rating on
Armstrong's proposed US$1.1 billion senior secured bank facility were
affirmed.  The bank loan rating was assigned on Sept. 28, 2006, based on the
assumption that Armstrong World would exit bankruptcy as well as satisfy
other conditions.


ARMSTRONG: VDM Specialists Starts Managing Firm's Trading
---------------------------------------------------------
VDM Specialists, LLC, has begun managing the trading of Armstrong World
Industries on the New York Stock Exchange or NYSE.

Robert Fagenson, the chief executive officer of VDM Specialists, said, "We
are pleased to welcome back Armstrong World Industries to the NYSE, where it
first began trading in 1935, and to our growing family of clients.  Our
strength and experience in the housing and building-related sectors provides
a solid foundation from which to support its listing."

Armstrong World's NYSE listing followed the company's emergence from Chapter
11 of the U.S. Bankruptcy Code on Oct. 2, 2006.
The company filed for voluntary reorganization under Chapter 11 on Dec. 6,
2000, to resolve its liability for asbestos personal injury claims.  VDM
Specialists represents a variety of leaders in the housing and
infrastructure sectors, including Ameron International Corp., Desarrolladora
Homex SA de CV, Drew Industries, Interline Brands, Inc., M/I Schottenstein
Homes Inc., Masco Corp., Masisa S.A., Perini Corp., Pulte Homes Inc., Trex
Co. Inc., and Commercial Metals Co.

                    About VDM Specialists

As one of the largest specialist firms on the NYSE, VDM Specialists
represents over 400 leading issues including Pfizer, Hewlett-Packard, The
Walt Disney Co. and Apache Corp.  On NYSE Arca it represents BFC Financial
Corp.  VDM Specialists is part of publicly traded Van der Moolen Holdings
NV.

                    About Armstrong World

Based in Lancaster, Pennsylvania, Armstrong World Industries,
Inc. -- http://www.armstrong.com/-- the major operating subsidiary of
Armstrong Holdings, Inc., designs, manufactures and sells interior floor
coverings and ceiling systems, around the world.

The company has Asia-Pacific locations in Australia, China, Hong
Kong, Indonesia, Japan, Malaysia, Philippines, Singapore, South
Korea, Taiwan, Thailand and Vietnam.  It also has locations in
Colombia, Costa Rica, Greece and Iceland, among others.

                        *    *    *

As reported in the Troubled Company Reporter-Latin America on Oct. 10, 2006,
Standard & Poor's Ratings Services raised its corporate credit rating on
Armstrong World Industries Inc. to 'BB' from 'D', following the building
products company's emergence from bankruptcy on Oct. 2, 2006.  S&P said the
outlook is stable.

The 'BB' senior secured bank loan rating and the '2' recovery rating on
Armstrong's proposed US$1.1 billion senior secured bank facility were
affirmed.  The bank loan rating was assigned on Sept. 28, 2006, based on the
assumption that Armstrong World would exit bankruptcy as well as satisfy
other conditions.


DENNY'S CORP: Creates New Positions for Corporate Restructuring
---------------------------------------------------------------
Denny's Corp. has embarked on a corporate restructuring,
which created new positions and realigned key operational roles
and responsibilities under a new reporting structure with six
positions reporting directly to the chief executive officer and
president.

The Company says that the direct reports now include chief
operating officer, chief financial officer, chief legal officer,
chief marketing officer, chief diversity officer and chief people
officer.

The Company disclosed that among the new aspects of its focused
organizational structure is the creation of a chief operating
officer position.  Under which, the company consolidates into one
responsibility both company and franchise operations and the
facilities/repair and maintenance as well as the procurement
groups that previously were separate functions.  The Company says that Sam
Wilensky will serve as acting head of operations, in addition to directing
franchisee operations, while a search is mounted for a full-time chief
operating officer.  The position is expected to be filled by the end of
2007.

The company also disclosed that Mark Wolfinger is elevated to
executive vice president, Growth Initiatives, in addition to his
role as chief financial officer.  Mr. Wolfinger will assume
expanded responsibility for Development, including Strategic and
Alternative Delivery Initiatives, ensuring that the company
remains focused on growth.  He will also have added responsibility for
Information Technology and a newly created call center that responds to the
needs of guests and employees.

Yvonne Wolf was also elevated to the new position of chief people officer
and will report directly to the chief executive officer.  Ms. Wolf will
assume responsibility for hiring, developing and retaining diverse talent
essential to the success of the brand.

Other key executives, including Margaret Jenkins, chief marketing officer,
Rhonda Parish, executive vice president and chief legal officer, and Ray
Hood, chief diversity officer, will continue to report directly to the chief
executive officer.  In her role as chief marketing officer, Ms. Jenkins will
emphasize retaining guests in addition to acquiring new guests.  Ms. Parish
will increase her department's involvement with government and public
affairs.  Mr. Hood will continue to ensure that diversity is embedded into
and influences all aspects of the Company's business.

The Company further disclosed that Craig Herman, senior vice
president of Company Operations, is retiring and has expressed an interest
to be a franchisee.  Company Operations will be led by Janis Emplit, senior
vice president, who will also oversee a
consolidated facilities team.

Headquartered in Spartanburg, South Carolina, Denny's Corporation --
http://www.dennys.com/-- is America's largest full-service family
restaurant chain, consisting of 543 company-owned units and 1,035 franchised
and licensed units, with operations in the United States, Canada, Costa
Rica, Guam, Mexico, New Zealand and Puerto Rico.

                         *     *     *

As reported in the Troubled Company Reporter on Aug. 11, 2006
Denny's Corporation's balance sheet at June 28, 2006, showed US$500.3
million in total assets and US$758.2 million in total liabilities, resulting
in a US$257.9 million stockholders' deficit.

                           *     *     *

As reported in the Troubled Company Reporter on Oct. 9, 2006
Standard & Poor's Ratings Services raised its corporate credit
rating on Armstrong World Industries Inc. to 'BB' from 'D',
following the Company's emergence from bankruptcy on
Oct. 2, 2006.  The outlook is stable.




=======
C U B A
=======


* CUBA: Trade with US Grows Despite Embargo
-------------------------------------------
Industry leaders told the Associated Press that Cuba's trade with the United
States is prospering despite an embargo that the latter's government imposed
on Cuba.

As reported in the Troubled Company Reporter-Latin America on Oct. 12, 2006,
the administration of US President George W. Bush has created a new law
enforcement task force to aggressively pursue violations of the trade and
travel sanctions on Cuba.  The Cuban Sanctions Enforcement Task Force
includes the Federal Bureau of Investigation and security or law enforcement
units of the Treasury, Homeland Security and Commerce departments.  The task
force's creation marks the latest move by the Bush administration to
intensify US-Cuba restrictions.  R. Alexander Acosta, an attorney in Miami,
said that the task force would focus on prosecuting criminal violators of
the Cuba trade and travel ban, particularly on money laundering and illegal
travel.  The task force would bring greater emphasis to existing Cuba
sanction enforcement efforts that are scattered among several federal
agencies.

However, the restriction on agricultural trade between Cuba and the US was
eased in 2001 and US firms have gone to selling about US$350 million worth
of more than a dozen products in 2005, from US$4 million per year in corn
and poultry in 2001, AP relates.

According to AP, industry leaders disagree on how the task force would
affect future business with Cuba, which ranked the 30th out of the 224 US
export markets in 2005.

John S. Kavulich -- a senior policy adviser for the US-Cuba Trade and
Economic Council Inc., which promotes trade between the two nations -- told
AP that he didn't think the announcement would affect companies currently
trading with Cuba.

Dave Kuntarich, the vice president of operations for P.S. International
Ltd., told AP, "We are not noticing any difficulty with the agricultural
products we ship to Cuba."

AP underscores that P.S. International trades these products with Cuba:

          -- frozen meats,
          -- dried peas and beans, and
          -- corn husk-based animal feed supplements.

The US Treasury Department has been helpful and efficient in processing the
licenses P.S. International needs for trade, AP says, citing Mr. Kuntarich.

The report says that these firms also trade with Cuba with over 70% of US
agricultural products:

          -- FC Stone of Des Moines, Iowa; and
          -- Cargill Inc. of Minnetonka, Minnesota.

Kirby Jones -- a consultant and head of the US Cuba Trade Association, which
also promotes trade between the two countries -- told AP that he was worried
that the task force was aimed at attorneys and consultants to convince them
that it's too much of a hassle to trade with Cuba.

"Those restrictions now expanded with the establishment of the Cuban
Sanctions Enforcement Task Force will push even more valuable commerce away
from the United States," AP states, citing David Coia, the USA Rice
Federation spokesperson.

                        *    *    *

Moody's assigned these ratings on Cuba:

      -- CC LT Foreign Bank Depst, Caa2
      -- CC LT Foreign Curr Debt, Caa1
      -- CC ST Foreign Bank Depst, NP
      -- CC ST Foreign Curr Debt, NP
      -- Issuer Rating, Caa1




===================================
D O M I N I C A N   R E P U B L I C
===================================


AES DOMINICANA: Government Wants AES Andres Deal Revoked
--------------------------------------------------------
The government of the Dominican Republic is proposing a cancellation of
contract with AES Andres -- a unit of AES Dominicana, AES Corp.'s subsidiary
in the country -- to free up 500 megawatts of service that is included in
energy accords, DR1 Newsletter reports.

According to DR1, the government is also proposing the termination of
contracts with:

          -- Palamara-La Vega,
          -- Dominican Power Partner, and
          -- Electrical Company of Puerto Plata.

The government told DR1 that the energy accords created a distortion in the
market.

As reported in the Troubled Company Reporter-Latin America on Oct. 17, 2006,
AES Andres and Itabo, affiliates of AES Dominicana, would meet with the
country's power industry contracts renegotiation commission on Oct. 18,
along with other firms in the power sector.  The meeting was aimed at
seeking an accord regarding contract renegotiations.

DR1 notes that the meeting between the energy sector and the government
concluded without any re-negotiated contracts.

Dominican President Leonel Fernandez urged the electrical firms that signed
the Madrid Accord during the Mejia administration to employ enough
flexibility when discussing re-negotiations, emphasizing that they needed to
understand that the issue at hand is of national interest, and nothing can
be above this, Dr1 relates.

Radhames Segura, the head of the state-run Electrical Companies, told DR1
the importance of the renegotiation talks, saying that the government would
use all legal resources to make any proposals they submit to the energy
providers worth it.

The current system under the contracts is unsustainable and the government
has to find a way out, DR1 says, citing Mr. Segura.

El Caribe underscores that the government is proposing that energy providers
Itabo and Haina decrease prices for over-indexation and if they would not do
so the government will end contracts with them in 2009, which is seven years
earlier than the actual expiration of the accords.

DR1 underscores that the government is calling for firms who operated in the
spot market to bid for the 500 megawatts of power.  Companies, as from 2010,
would need to bid for contracts to provide the required power, raising
competition in the market.

The report says that the Dominican government proposed decreasing by up to
30% what it pays Cogentrix for the capacity of installed energy.  However,
this would not be necessary if Cogentrix switches from fuel oil to natural
gas as there would also be a 10% reduction in maintenance and operation
costs.

The government is asking Smith & Enron up to 40% reduction in capacity
installed costs, DR1 says.

Energy providers told DR1 that they would answer in 21 days.

                      About AES Andres

AES Andres is a 310-megawatt gas fired combined cycle plant co-located with
a liquefied natural gas (LNG) importing terminal.  The plant and LNG
facility are located 30 kilometers east of Santo Domingo in the Dominican
Republic.

                    About AES Dominicana

AES Dominicana is a special-purpose financing entity of AES Corp. in the
Dominican Republic.  It manages two of AES Corp.'s wholly owned generating
facilities, Andres and DPP.  Andres is incorporated under the laws of the
Netherlands, and it owns a 304-megawatt gas-fired, combined-cycle plant
outside of Santo Domingo. The facility also includes an LNG regasification
terminal.  AES Dominicana also includes Itabo.

                        *    *    *

As reported in the Troubled Company Reporter-Latin America on
July 21, 2006, Standard & Poor's Ratings Services' 'B-' rating on AES
Dominicana Energia Finance SA's US$160 million senior notes due 2015
reflects the challenges of operating in the electric sector in the Dominican
Republic, and a legacy liquefied natural gas contract that could be
burdensome, offset by the contractual nature of the revenue stream, and
continued support of the electricity sector by the Dominican government.
S&P said the outlook is stable.


AFFILIATED COMPUTER: Continuing SmartPA Operation
-------------------------------------------------
Affiliated Computer Services, Inc., has signed a two-year, estimated US$4.8
million extension to its contract to continue conducting clinical editing
and pharmacy prior authorizations with its SmartPA tool for the Texas Health
and Human Services Commission or HHSC Vendor Drug Program.

The HHSC Vendor Drug Program provides prescription drugs for the Texas
Medicaid, Children's Health Insurance Program or CHIP, Children with Special
Healthcare Needs, and Kidney Health Care programs.

Affiliated Computer has supported the Texas HHSC Vendor Drug prior
authorization program since its inception and is consistently recognized as
meeting and exceeding the State's legislative mandate for cost savings.
Affiliated Computer's SmartPA, introduced into this program in 2004, is a
clinical editing and pharmacy prior authorization program that delivers
pharmaceutical cost containment, efficient pharmacy benefit administration,
and continued access to quality medications.  Unlike other prior
authorization programs, this program uses a clinical rules system, in
conjunction with drug and medical claims data, to help pharmacists determine
the appropriateness of dispensing certain medications to Medicaid patients.
The system also uses information from healthcare providers, when required,
to determine if specific medications should be dispensed.

SmartPA streamlines the prior authorization process for all stakeholders --
physicians, pharmacists, recipients, and payors -- and it adjudicates prior
authorization requests online in real time.  Prescriptions that meet a
pre-defined set of clinical and fiscal criteria are approved in seconds.

The SmartPA program results in substantial savings in administrative costs
compared with traditional prior authorization programs.  Savings result from
the lower volume of call center use.  Lower call center volume yielded
considerable administrative savings for the Texas Medicaid and CHIP
programs.  In addition, SmartPA leads to major time savings for patients,
physicians, and pharmacists, who would otherwise have to contact call
centers, reprocess prescriptions, or experience delays in therapy.

John Crysler, the managing director of Affiliated Computer Services
Government Healthcare Solutions said, "SmartPA is a revolutionary tool that
saves valuable time for physicians and pharmacists, while creating
prescription drug cost savings and quality improvement.  We are proud that
the Texas Health and Human Services Commission turned to Affiliated Computer
for its pharmacy prior authorization needs."

Headquartered in Dallas, Texas, Affiliated Computer Services,
Inc., (NYSE: ACS) -- http://www.acs-inc.com/-- provides business process
outsourcing and information technology solutions to commercial and
government clients.  The company's global presence include operations in
Brazil, China, Dominican Republic, India, Guatemala, Ireland, Philippines,
Poland and Singapore.

                        *    *    *

As reported in the Troubled Company Reporter on Oct. 4, 2006,
Standard & Poor's Ratings Services lowered its corporate credit rating and
senior secured ratings on Dallas, Texas-based
Affiliated Computer Services, Inc. to 'B+' from 'BB'.  S&P placed the
ratings on CreditWatch with negative implications where they were placed on
Jan. 27, 2006.


CAP CANA: Fitch Assigns B Rating to Senior Secured Notes
--------------------------------------------------------
Fitch Ratings has assigned a preliminary 'B' rating to Cap Cana, SA's senior
secured notes.

Cap Cana is domiciled in the Dominican Republic.  Its principal activity is
the development, construction, operation and administration of a tourist and
leisure resort community project of the same name.  Cap Cana is a multi-use
luxury resort located along five miles of coastline in the southeastern
region of the country.

The US$200 million in proceeds from the offering will be used to complete
the initial phase of construction as well as repay a significant amount of
Cap Cana's existing debt.  The notes will be secured by a first priority
mortgage over unencumbered real estate property, as well as receivables
related to the sale of property.

The multi-use resort development consists of three main components:

   -- Beach;
   -- Golf; and,
   -- Marina.

When fully developed, the project will be anchored by five championship golf
courses -- three are Jack Nicklaus signature courses -- the largest inland
marina in the Caribbean, several luxury hotels, more than 10,000 housing
units, numerous sports facilities, along with high-end stores, restaurants,
spas, and entertainment complexes.

Cap Cana began development in 2002 and to date has invested approximately
US$220 million in infrastructure and other improvements, which include 17
miles of paved roads, water reservoirs and treatment facilities, power
generation capacity of five megawatts, a private beach club, the first Jack
Nicklaus Signature Golf course and substantial completion of the marina and
numerous residential units therein.  The first condos were delivered in
October 2006.

The structure backing this issuance adds significant investor protections in
two forms:

   * There are cash flow controls that will reduce project
     execution risks.  Bond proceeds sized to the remaining
     construction costs will be held in escrow and only
     released upon the achievement of construction milestones;
     and

   * A material security package backs the debt in the event of
     a corporate default.  The collateral package will exist in
     two forms:

     -- First mortgage liens on land equal to a minimum of 200%
        of the outstanding debt (under certain limited
        circumstances, liens equal to a much greater amount are
        required); and

     -- Receivables arising from the sale of developed
        properties will equal 125% of outstanding debt.

Cap Cana's business model is to sell units prior to construction.  Under the
terms of this transaction, certain sales contracts will be pledged as
collateral to back the notes.  These receivables are subject to construction
completion risks, but once completed, the receivables will act much like a
mortgage.  Prospective obligors are expected to be high net worth
individuals.

The major risks for Cap Cana are two-fold.  First, sales of future units
must be realized in order to collateralize the transaction and generate
additional working capital for the project.  Second, construction on
individual units must be completed.

Fitch believes the risks to be consistent with the expected rating.
Independent engineer reports were used to facilitate modeling assumptions,
which incorporated down side analysis regarding real estate valuations as
well as construction costs.


CAP CANA: Moody's Rates US$200 Mil. Senior Secured Notes at B3
--------------------------------------------------------------
Moody's Investors Service assigned a B3 rating to Cap Cana, SA's proposed
US$200 million senior secured notes due 2013.

Moody's also assigned a B3 corporate family rating to Cap Cana.  The rating
outlook is stable.

The notes will be secured by a first-priority lien on the company's
property, and have a liquidation value of not less than 200% of the
principal amounts of the notes and certain receivables.  An escrow will be
created by the trustee to manage the receivables from clients who are buying
property in Cap Cana.  These receivables are to be maintained at 125% of the
issue amount.  The notes are senior secured obligations of Cap Cana and will
rank equally in right of payment with all of the company's existing and
futures senior secured indebtedness.  The notes contain certain covenants,
which include restricted payments and incurrence of debt.

Moody's B3 senior secured rating reflects Cap Cana's mix of real estate
products, and the size, location and amenities of the development, which
will differentiate it from other resorts in Dominican Republic when
complete.  The land is 100% owned by the company and Cap Cana has displayed
good operating margins with diversified revenue sources coverage and low
leverage.  The company has a seasoned management team with decades of
collective real estate development and construction experience.  Moreover,
its sales and marketing team has had experience in international sales of
luxury properties.  The ratings also incorporate the structural collateral
of the transaction.

Cap Cana's primary credit challenges are related to operating in a narrow
market, as well as uncertainty regarding the demand for its product.  An
appraisal of the company and industry by CBRE indicates demand for homes and
related real estate may be high, but the long-term robustness of the
Dominican Republic property market, and of Cap Cana's resort, are not yet
proven.  Cap Cana bears 100% of the risk of finding potential buyers, and
not all units in construction are pre-sold.

In Moody's opinion, the success of the company's project is intrinsically
tied to the current and future economic and political conditions in the
Dominican Republic.  The Dominican Republic's foreign- and local-currency
bonds are rated B3 by Moody's, and are under review for upgrade.

The stable rating outlook reflects Moody's expectation that Cap Cana will
maintain a conservative approach to leverage and stable earnings, while
meeting or exceeding its sales projections.

Positive ratings movement would reflect the success of the maintenance of
total leverage at current levels (pro forma for the bonds) and the demand
for Cap Cana's product outpacing budgeted sales and revenues by 130%.
Negative ratings movement would reflect economic difficulties in the
Dominican Republic, a natural disaster or other event that delays or damages
the development, or if sales demand for Cap Cana's housing and related
property is less than anticipated.

Cap Cana is a corporation that was organized under the laws of the Dominican
Republic in May 2001.  Its principal activity is the development,
construction, operation and administration of a tourist and leisure resort
community project known as Cap Cana, located in the Municipality of Higuey,
Province of La Altagracia, Section Jina Jaragua, Place, Juanillo area of the
Dominican Republic.

Cap Cana is being developed as a multi-use luxury resort in the Caribbean
with world-class beaches, championship golf courses, yachting facilities and
similar leisure amenities.  The property consists of over 119.9 square
kilometers of land, including an eight-kilometer coastline and 3.5
kilometers of one of the most pristine beaches in the region.  Cap Cana is
located on the easternmost tip of the Dominican Republic, and is easily
accessible from many parts of the world, as Punta Cana International
Airport, only a ten-minute drive from the property, receives nonstop flights
from large metropolitan centers in Europe, Canada and the USA.  When fully
developed, Cap Cana is expected to have five championship golf courses --
three of which will be Nicklaus Signature courses, one of which was recently
completed; one of the largest inland marinas in the Caribbean; several
luxury hotels; over 10,000 housing units, including estate homes, villas and
condominiums; numerous sports facilities, including private golf, beach and
yacht clubs; and a variety of high-end stores, restaurants, spas and
entertainment complexes.  Plans also include the development of a large
ecological preserve.




=============
E C U A D O R
=============


* ECUADOR: Congress Approves Revised Trust Fund Creation Bill
-------------------------------------------------------------
The Ecuadorean congress has ratified a revised bill on the creation of
Feiseh, a trust fund that will hold revenues from the oilfields stripped
from US firm Occidental Petroleum, Dow Jones Newswires reports.

According to Dow Jones, the congress had approved the initial legislation on
Sept. 7.  However, President Alfredo Palacio partially rejected the bill,
asking that the fund transfer resources to the Finance Ministry in 2006 to
start important projects.

Dow Jones underscores that the government estimates that Feiseh is expected
to total US$620 million in 2006 and about US$1.3 billion in 2007.

The first project Feiseh will finance is the state-owned Esmeraldas refinery
upgrade, which will require about US$130 million, Dow Jones notes.  The
government is accepting bids for the project until Nov. 30.

Dow Jones relates that Feiseh will also fund the construction of a
US$100-million underground gas storage facility.  The deadline for the
submission of bids for the project is Dec. 4.

Ivan Rodriguez, the energy minister of Ecuador, told Dow Jones that the
contracts for the two projects will be signed at the end of December or at
the start of January 2007.

Feiseh will also fund hydroelectric projects so that Ecuador can become
self-sufficient in power generation by 2014, Dow Jones states.

                        *    *    *

Fitch assigned these ratings on Ecuador:

                     Rating     Rating Date

   Country Ceiling     B-      Aug. 29, 2005
   Long Term IDR       B-      Dec. 14, 2005
   Short Term IDR      B       Dec. 14, 2005




=================
G U A T E M A L A
=================


PAYLESS SHOESOURCE: Moody's Assigns Loss-Given-Default Rating
-------------------------------------------------------------
In connection with Moody's Investors Service's implementation
of its new Probability-of-Default and Loss-Given-Default rating
methodology for the US and Canadian Retail sector, the rating
agency confirmed its Ba3 Corporate Family Rating for Payless Shoesource,
Inc. and upgraded its B2 rating on the company's US$200 million 8.25% senior
subordinated notes to B1.

Moody's also assigned an LGD4 rating to notes, suggesting noteholders will
experience a 64% loss in the event of a default.

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating methodology will also
enhance the consistency in Moody's notching practices across industries and
will improve the transparency and accuracy of Moody's ratings as Moody's
research has shown that credit losses on bank loans have tended to be lower
than those for similarly rated bonds.

Probability-of-default ratings are assigned only to issuers,
not specific debt instruments, and use the standard Moody's alpha-numeric
scale.  They express Moody's opinion of the
likelihood that any entity within a corporate family will
default on any of its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's opinion of
expected loss are expressed as a percent of principal and accrued interest
at the resolution of the default, with
assessments ranging from LGD1 -- loss anticipated to be 0% to 9% -- to LGD6
(loss anticipated to be 90% to 100%).

Headquartered in Topeka, Kansas, Payless ShoeSource, Inc. --
http://www.payless.com/-- is a family footwear specialty
retailer with 4,605 retail stores, as of fiscal yearend
Jan. 28, 2006 (fiscal 2005), including 22 stores not open for
operations.  The company's retail stores in the United States, Canada, the
Caribbean, Central America, South America and Japan sold 182 million pairs
of footwear, in fiscal 2005.  The Company operates its business in two
segments -- Payless Domestic and Payless International.  The Payless
Domestic segment includes retail operations in the United States, Guam and
Saipan.  The Payless International segment includes retail operations in
Canada; Puerto Rico; the United States Virgin Islands; Japan; the South
American Region, which includes Ecuador, and the Central American Region,
which includes Costa Rica, Guatemala, El Salvador, the Dominican Republic,
Honduras, Nicaragua, Panama and Trinidad and Tobago.




=========
H A I T I
=========


* HAITI: Audit of Public Agencies to be Disclosed in Five Days
--------------------------------------------------------------
The Deputy Chamber Finance Committee of Haiti gave the National Audit Office
and the Administrative Litigation Court five days to submit the results of
their two-year audits of public agencies, Prensa Latina reports.

According to Prensa Latina, the auditors looked into institutions accused of
serious corruption when Gerard Latortue was provisional executive.  Among
those probed include:

          -- Chancellery,
          -- General Customs Administration, and
          -- Provisional Electoral Board.

The Foreign Affairs Ministry has transferred millions of US dollars, Prensa
Latina says, citing Jonas Coffy, the chairperson of the Finance Committee
and a member of the Parliament's Anticorruption Committee.

"If the reports are not published by the deadline we ll go to the next
higher step in our demands," Mr. Coffy told Prensa Latina.

It was intolerable that there has been no publication of documents nor of
the auditors' recommendations, BNamericas states, citing Mr. Coffy.

                        *    *    *

Haiti is currently seeking international help to spur economic development
in the country.  President Rene Preval submitted that the country's poverty,
widespread unemployment and the dilapidated state of infrastructure will be
alleviated with increased international assistance.




===============
H O N D U R A S
===============


* HONDURAS: Presenting Telecommunications Law Reform to Congress
----------------------------------------------------------------
The government of Honduras will be presenting to the congress a draft for
the reform of the nation's telecommunications law, according to a report by
La Prensa.

La Prensa relates that the reform will also explain strategies for
strengthening Hondutel, the state-owned telecom firm, in the liberalized
market.

Business News Americas underscores that in the proposed telecoms law, the
government suggests partial privatization of Hondutel and outlines
guidelines that allow mobile operators to handle international calls
directly instead of going through another carrier.

The government, over a year before basic telephony was officially
liberalized in December 2005, allowed newcomers to deploy local telephony
lines under a franchise model, BNamericas notes.

BNamericas emphasizes that Hondutel will also gain strength through the
launching of mobile operations.  However, it is yet unclear how advanced
Hondutel is in rolling out the service, which is liable to meet with severe
competition if Conatel, the telecoms regulator succeeds in auctioning the
fourth mobile license of Honduras before 2006 ends.

The World Bank is drawing up recommendations for strengthening Hondutel, as
part of a four-year plan for the Honduran economy.  The recommendations will
be published this week, BNamericas states.

                        *    *    *

Moody's Investor Service assigned these ratings on Honduras:

                     Rating     Rating Date

   Senior Unsecured    B2       Sept. 29, 1998
   Long Term IDR       B2       Sept. 29, 1998




=============
J A M A I C A
=============


AIR JAMAICA: Seeking Cabinet Approval for Restructuring Plan
------------------------------------------------------------
Omar Davies, the finance minister of Jamaica, will seek the approval of the
nation's cabinet regarding the new restructuring plan proposed for Air
Jamaica, the Jamaica Gleaner reports.

As reported in the Troubled Company Reporter-Latin America on Sept. 18,
2006, the International Monetary Fund wanted radical action like shutting
down Air Jamaica and allowing its routes to be covered by private airlines.
The IMF had given the same suggestion in previous analyses of the Jamaican
economy in the late 1990s.  Air Jamaica had consistently incurred losses.
It had an accumulated deficit over the past decade of about US$1 billion.
Air Jamaica's losses increased to US$136 million in 2005, from US$113
million in 2004, despite a restructuring plan aimed at increasing revenues
and reducing costs.  IMF said that the losses add to the government debt
burden as they are financed through a combination of government transfers
(the administration announced an annual cap of US$30 million in support for
the airline) and commercial loans contracted under government guarantee.

Minister Davies indicated that shutting down Air Jamaica, which transports
almost 50% of Jamaica's passengers and about a third of all tourists to the
island, was not an option for the government at this time, The Gleaner
notes.

According to The Gleaner, Jamaican officials insisted that Air Jamaica is
vital to Jamaica's key tourism industry.

However, Minister Davies indicated that the administration did not have the
appetite for Air Jamaica's demand for subsidies, The Gleaner says

The Gleaner underscores that Air Jamaica would have been the responsibility
of a transport minister.  However, the airline has fallen within Minister
Davies' responsibility due to its appetite for government subsidies and the
finance minister's control of the national purse strings.

"We are committed to the airline, but we are interested in new paths,"
Minister Davies told The Gleaner.

The Gleaner relates that the restructuring plan will also include the
possible change of Air Jamaica's fleet from Airbus to Boeing planes, to
reduce losses and bring viability to the carrier.

Minister Davies told The Gleaner, "Boeing is offering us some interesting
things.  They are making presentations to us and a decision has to be made
within a month."

The government is seeking for private sector partners for Air Jamaica, The
Gleaner says, citing Minister Davies.

                        *    *    *

On July 21, 2006, Standard & Poor's Rating Services assigned B long-term
foreign issuer credit rating on Air Jamaica Ltd., which is equal to the
long-term foreign currency sovereign credit rating on Jamaica, is based on
the government's unconditional guarantee of both principal and interest
payments.


NATIONAL COMMERCIAL: Won't Pay For Caribbean Examination Council
----------------------------------------------------------------
The National Commercial Bank Jamaica Ltd. will no longer pay fees for two
Caribbean Examination Council subjects, Radio Jamaica reports.

Radio Jamaica relates that National Commercial launched three years ago the
Jamaican Education Initiative or JEI to assist students at the secondary and
tertiary levels.  JEI is funded by a 1% contribution from each credit card
purchase.  One component of the scheme was for National Commercial to pay
the Caribbean Examination fees for Principles of Accounts and Principles of
Business.  Under the program, National Commercial paid in 2005 fees totaling
US$15.2 million to Caribbean Examination for over 13,800 students to sit the
two subjects.  Pamela Harrison, the administrator of JEI, had said that the
cheque would pay for 13,314 applications from public secondary schools and
506 from independent secondary schools.  The entries have increased 764 in
2005, compared with that of 2004.

However, the two-year-old scheme has ended, Radio Jamaica notes.  Several
parents are left with a bill that they had not budgeted for.

There has been no public announcement regarding the end of the scheme,
according to Radio Jamaica.  School administrators told parents days ago
that they would have to pay the fees.

Ms. Harrison confirmed to RJR News that no exam fees would be paid this
year.  The education ministry had been informed that the scheme was for two
years.

National Commercial was evaluating the use of the money under the program,
Radio Jamaica says, citing Ms. Harrison.  While the bank could decide to
resume paying exam fees, that decision will not be made in time for students
who will take exams this year.

Radio Jamaica emphasizes that parents will have to come up with an
additional US$1,190 for each of the two subjects this year.

Caribbean Examination fees are due on Nov. 15, Radio Jamaica states.


                        *    *    *

As reported in the Troubled Company Reporter-Latin America on
Feb. 13, 2006, Fitch initiated rating coverage on Jamaica's
National Commercial Bank Jamaica, Ltd., by assigning 'B+' ratings on the
bank's long-term foreign currency.  Other ratings assigned by Fitch include:

   -- Long-term local currency 'B+';
   -- Short-term foreign currency 'B';
   -- Short-term local currency 'B';
   -- Individual 'D';
   -- Support '4'.

Fitch said the ratings have a stable outlook.


SUGAR COMPANY: Pre-Qualification Bidding Deadline Extended
----------------------------------------------------------
The Development Bank of Jamaica has moved the deadline of the
pre-qualification bids submission for the five factories of the Sugar
Company of Jamaica to November, Radio Jamaica reports.

Radio Jamaica relates that the Sugar Company has put up these assets for
sale:

          -- the Duckenfield estate in St. Thomas,
          -- Bernard Lodge in St. Catherine,
          -- Monymusk in Clarendon,
          -- Long Pond and Hampden in Trelawny, and
          -- Frome in Westmoreland.

According to Radio Jamaica, the government is making another attempt to find
buyers for the five factories.

The extension was granted due to "lukewarm" response from investors, Roger
Clarke, the Jamaican minister of agriculture, told Radio Jamaica.

Sugar Company of Jamaica registered a net loss of almost
US$1.1 billion for the financial year ended Sept. 30, 2005, 80% higher than
the US$600 million reported in the previous financial year.  Sugar Company
blamed its financial deterioration to the reduction in sugar cane
production.




===========
M E X I C O
===========


GRUPO IUSACELL: Mexican Judge Issues Sentencia de Concurso
----------------------------------------------------------
Grupo Iusacell, S.A. de C.V. disclosed that its operating
subsidiary, Grupo Iusacell Celular, S.A. de C.V., continued to
advance in its debt restructuring within its strategic plan, and
the restructuring agreement reached in principle with the majority of its
creditors is anticipated to be legally finalized.

The debts includes its $190 million Tranche A Bank Loans,
US$76 million Tranche B Bank Loans and US$150 million 10% Senior Notes due
in 2004.

The Company said that more than 82% of its creditors have
confirmed support to its Plan of Reorganization through its
exchange offer and consent solicitation launched in May and
expired on July 26, 2006.

The restructuring consists of an exchange of any and all of its:

   (a) Tranche A Loans for new senior floating rate first lien
       notes due 2011 accruing interest at three-month LIBOR
       plus 4%; and

   (b) Tranche B Loans and its 2004 Notes for its new 10% senior
       subordinated second lien notes due 2012.

The Company also disclosed that a Mexican judge (Juez Septimo de
Distrito en Materia Civil del Primer Circuito), as a part of the
restructuring process, issued a declaration of concurso mercantile
(sentencia de concurso) for Iusacell Celular.  As a result of the
declaration, Iusacell Celular expects to execute soon the corresponding plan
of reorganization (convenio concursal) to be submitted before the Mexican
court.

The Company further disclosed that the Federal Institute
Specializing in Concursos Mercantiles's (Instituto Federal de
Especialistas en Concursos Mercantiles) review of the Company's
books and records concluded with the report of the examiner Pablo Octaviano
Mendoza Garcia.

Headquartered in Mexico City, Mexico, Grupo Iusacell, S.A. de C.V. (BMV:
CEL) -- http://www.iusacell.com-- is a wireless cellular and PCS service
provider in Mexico with a national footprint.  Independent of the
negotiations towards the restructuring of its debt, Grupo Iusacell
reinforces its commitment with customers, employees and suppliers and
guarantees the highest quality standards in its daily operations offering
more and better voice communication and data services through
state-of-the-art technology, including its new 3G network, throughout all of
the regions in which it operate.

As of Dec. 31, 2005, Grupo Iusacell's stockholders' deficit
widened to MXN2,076,000,000 from a deficit of MXN1,187,000,000 at Dec. 31,
2004.

Grupo Iusacell filed for bankruptcy protection on June 18 under
Mexican Law to prevent creditors from disrupting its debt
restructuring talks.  On July 14, 2006, Gramercy Emerging Markets Fund,
Pallmall LLC and Kapali LLC, owed an aggregate amount of US$55,878,000 filed
an Involuntary Chapter 11 Case against Grupo Iusacell's operating
subsidiary, Grupo Iusacell Celular, SA de CV (Bankr. S.D.N.Y. Case No.
06-11599).  Alan M. Field, Esq., at Manatt, Phelps & Phillips, LLP,
represents the petitioners.  Iusacell Celular then filed for bankruptcy
protection under Mexican Law on July 18.


MERIDIAN AUTOMOTIVE: Court Approves Flex-N-Gate Settlement Pact
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware approved a settlement
agreement between Meridian Automotive Systems Inc. and its
debtor-affiliates, and Flex-N-Gate Corporation.

As reported in the Troubled Company Reporter on Sept. 29, 2006,
the Debtors used to supply Ford Motor Company with rear bumper
systems and hitchplates.  In December 2003, Ford decided to move
production of the Bumper Systems and Hitchplates to Flex-N-Gate
Corporation.  From discussions with Ford, the Debtors were made
to understand that they would continue producing and supplying
the Hitchplates until June 2004.  Flex-N-Gate issued a six-month
purchase order to the Debtors in December 2003, which priced the Hitchplates
at US$19.115 per unit.

The Debtors filed on Nov. 23, 2005, a complaint against Flex-
N-Gate in the United States District Court for the Eastern
District of Michigan seeking payment of US$2,200,000 for 111,945 Hitchplates
that they supplied to Flex-N-Gate from January
through April 2004, plus the value of certain raw material,
inventory and work in progress.  Flex-N-Gate denied all of the
Debtors' allegations and asserted various defenses to the
Complaint.

Flex-N-Gate and certain of its affiliates timely filed several
claims against the Debtors that total more than US$5,100,000.  The Debtors
objected to the Claims and asked the Court to expunge or reduce them to the
amounts reflected in their books and records.

The Settlement Agreement was the result of several months of
negotiations between the Debtors and Flex-N-Gate and resolved the Litigation
and Flex-N-Gate's Claims.

The salient terms of the Settlement Agreement include:

    -- Flex-N-Gate will pay US$980,000 into escrow and effect a
       set-off for certain of its Claims;

    -- The Debtors will dismiss the Litigation with prejudice
       and Flex-N-Gate's Claims will be disallowed and expunged
       in their entirety; and

    -- The Debtors and Flex-N-Gate will release each other with
       respect to the Litigation, except for any causes of
       action or claims which the Debtors may have against Flex-
       N-Gate or its affiliates under Chapter 5 of the
       Bankruptcy Code.

The Settlement Agreement will enable the Debtors to resolve the
Litigation consensually without the burdens and contingencies
associated with prosecuting and defending a lawsuit.

Effecting the set-off will allow the Debtors to recover almost
US$1,000,000 while at the same time fully resolving Flex-N-Gate's Claims
without further expense to their estates.

Headquartered in Dearborn, Mich., Meridian Automotive Systems,
Inc. -- http://www.meridianautosystems.com/-- supplies
technologically advanced front and rear end modules, lighting,
exterior composites, console modules, instrument panels and other interior
systems to automobile and truck manufacturers.  Meridian operates 22 plants
in the United States, Canada and Mexico, supplying Original Equipment
Manufacturers and major Tier One parts suppliers.  The Company and its
debtor-affiliates filed for chapter 11 protection on April 26, 2005 (Bankr.
D. Del. Case Nos. 05-11168 through 05-11176).  James F. Conlan, Esq., Larry
J. Nyhan, Esq., Paul S. Caruso, Esq., and Bojan Guzina, Esq., at Sidley
Austin Brown & Wood LLP, and Robert S. Brady, Esq., Edmon L. Morton, Esq.,
Edward J. Kosmowski, Esq., and Ian S. Fredericks, Esq., at Young Conaway
Stargatt & Taylor, LLP, represent the Debtors in their restructuring
efforts.  Eric E. Sagerman, Esq., at Winston & Strawn LLP represents the
Official Committee of Unsecured Creditors.  The Committee also hired Ian
Connor Bifferato, Esq., at Bifferato, Gentilotti, Biden & Balick, P.A., to
prosecute an adversary proceeding against Meridian's First Lien Lenders and
Second Lien Lenders to invalidate their liens.  When the Debtors filed for
protection from their creditors, they listed US$530 million in total assets
and approximately US$815 million in total liabilities.  (Meridian Bankruptcy
News, Issue No. 41; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


MERIDIAN AUTOMOTIVE: Court OKs Rejection of American Fin'l Lease
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized Meridian
Automotive Systems, Inc., and its debtor-affiliates to reject their
executory equipment lease with American Financial Leasing, Inc., effective
as of Sept. 7, 2006.

As reported in the Troubled Company Reporter on Sept. 13, 2006,
the Debtors have discontinued operations at their Canton, Ohio,
facility where the equipment subject to the Lease is utilized.

As a result, the Lease provided the Debtors and their estates with little or
no benefit based on:

   -- the Debtors' need for the Equipment;

   -- the cost to fulfill the Debtors' obligations under the
      Lease; and

   -- costs to transport and store the Equipment.

The Lease's rejection will avoid additional administrative
expenses to the Debtors' estates.  Moreover, the Lease held no
material economic value to the Debtors' estates and is not
essential to the conduct of the bankruptcy cases.

Headquartered in Dearborn, Mich., Meridian Automotive Systems,
Inc. -- http://www.meridianautosystems.com/-- supplies
technologically advanced front and rear end modules, lighting,
exterior composites, console modules, instrument panels and other interior
systems to automobile and truck manufacturers.  Meridian operates 22 plants
in the United States, Canada and Mexico, supplying Original Equipment
Manufacturers and major Tier One parts suppliers.  The Company and its
debtor-affiliates filed for chapter 11 protection on April 26, 2005 (Bankr.
D. Del. Case Nos. 05-11168 through 05-11176).  James F. Conlan, Esq., Larry
J. Nyhan, Esq., Paul S. Caruso, Esq., and Bojan Guzina, Esq., at Sidley
Austin Brown & Wood LLP, and Robert S. Brady, Esq., Edmon L. Morton, Esq.,
Edward J. Kosmowski, Esq., and Ian S. Fredericks, Esq., at Young Conaway
Stargatt & Taylor, LLP, represent the Debtors in their restructuring
efforts.  Eric E. Sagerman, Esq., at Winston & Strawn LLP represents the
Official Committee of Unsecured Creditors.  The Committee also hired Ian
Connor Bifferato, Esq., at Bifferato, Gentilotti, Biden & Balick, P.A., to
prosecute an adversary proceeding against Meridian's First Lien Lenders and
Second Lien Lenders to invalidate their liens.  When the Debtors filed for
protection from their creditors, they listed US$530 million in total assets
and approximately US$815 million in total liabilities.  (Meridian Bankruptcy
News, Issue No. 41; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


PILGRIM'S PRIDE: Gold Kist Comments on Termination Announcement
---------------------------------------------------------------
Gold Kist Inc. has responded to Pilgrim's Pride Corporation's
announcement regarding the early termination of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with
Pilgrim's unsolicited tender offer to acquire all outstanding shares of
common stock of Gold Kist at a price of US$20 per share.

Gold Kist explained that the early termination of the HSR waiting period has
no effect on Gold Kist's lawsuit against Pilgrim's filed in the United
States District Court for the Northern District of Georgia on Oct. 12, 2006.
In its lawsuit, Gold Kist asserts claims under Section 8 of the Clayton Act,
as well as the federal securities laws.  The HSR Act review process does not
address, or immunize a party from, a violation of Section 8 of the Clayton
Act, or from a violation of any other antitrust or securities laws.

Section 8 of the Clayton Act prohibits officers and directors of
companies of a certain size from sitting on the board of directors of a
competitor.  The HSR Act, on the other hand, provides for agency review of
potential acquisitions of a certain size to determine whether the
transaction, if consummated, would violate Section 7 of the Clayton Act,
which prohibits mergers or acquisitions that may substantially lessen
competition.  The early termination of the HSR waiting period, which was
anticipated, does not bar litigation challenging any aspect of the
transaction under the antitrust laws.

Gold Kist's lawsuit alleges that Pilgrim's attempt to add nine of its own
officers to the Board of Directors of Gold Kist prior to any possible
acquisition of Gold Kist would, if successful,
violate Section 8 of the Clayton Act.  Gold Kist does not raise Section 7
claims in its lawsuit.  The early termination of the waiting period under
the HSR Act is substantively irrelevant to the issues raised in Gold Kist's
lawsuit against Pilgrim's.

The Gold Kist Board believes that it is critical that its
stockholders receive full and fair disclosure about Pilgrim's
tender offer and believes that the election of Gold Kist directors should be
in compliance with the law.  Gold Kist remains committed to pursuing its
claims under Section 8 of the Clayton Act and the federal securities laws,
protecting the rights of its stockholders to full and accurate disclosure
regarding Pilgrim's tender offer and protecting the integrity of the
director election process.  Gold Kist believes Pilgrim's is not permitted to
submit an alternative slate of nominees under Gold Kist's bylaws and
Delaware law.

The Board of Directors of Gold Kist has rejected, as inadequate,
Pilgrim's unsolicited tender offer and strongly recommends that
its stockholders not tender their shares.

Merrill Lynch & Co. and Gleacher Partners LLC are serving as
financial advisors to Gold Kist.  Alston & Bird LLP and Richards, Layton &
Finger P.A. are serving as outside legal counsel to Gold Kist.

                          About Gold Kist

Based in Atlanta, Georgia, Gold Kist Incorporated (NASDAQ: GKIS)
-- http://www.goldkist.com/-- operates a fully integrated chicken
production, processing and marketing business.  Gold Kist's production
operations include nine divisions located in Alabama, Florida, Georgia,
North Carolina and South Carolina.

                      About Pilgrim's Pride

Headquartered in Pittsburgh, Texas, Pilgrim's Pride Corporation
(NYSE: PPC) -- http://www.pilgrimspride.com/-- produces,
distributes and markets poultry processed products through
retailers, foodservice distributors and restaurants in the United States,
Mexico and in Puerto Rico.  Pilgrim's Pride employs approximately 40,000
people and has major operations in Texas, Alabama, Arkansas, Georgia,
Kentucky, Louisiana, North Carolina, Pennsylvania, Tennessee, Virginia, West
Virginia, Mexico and Puerto Rico, with other facilities in Arizona, Florida,
Iowa, Mississippi and Utah.

                            *     *     *

In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the U.S. Consumer Products sector, the rating
agency held its Ba2 Corporate Family Rating for Pilgrim's Pride
Corp.  In addition, Moody's revised or held its probability-of-
default ratings and assigned loss-given-default ratings on the
company's note issues, including an LGD6 rating on its US$100
million 9.250% Sr. Sub. Global Notes Due Nov. 15, 2013, suggesting
noteholders will experience a 95% loss in the event of a default.


* MEXICO: Electricity Commission Okays US$2.2 Million for Plant
---------------------------------------------------------------
Sub-Surface Waste Management of Delaware, Inc., disclosed that the Comision
Federal de Electricidad or CFE recently authorized a US$2.2 million budget
for the cleanup of its Francisco Villa electric generating plant in the
State of Chihuahua, Mexico.

Environmental Tec International, S.A. de C.V. -- the SSWM Mexico subsidiary
company -- will enter into a subcontract agreement with the National
Autonomous University of Mexico or UNAM to perform the work expected to
start before the end of the year.

CFE provides electricity for nearly 22 million customers throughout Mexico
(excluding Mexico City).  The state-owned company has more than 150 power
plants of various types, including thermal, nuclear, hydroelectric, and
alternative energy facilities.  Approximately fifty percent of the power
generated uses hydrocarbons including fuel oil, natural gas and diesel as a
fuel source.  With a mission to protect the environment, CFE deserves
recognition for undertaking a positive and committed initiative as a lead
Federal entity to address historic pollution cleanup at its facilities and
comply with the environmental regulations promulgated by the Mexican
Republic.

Bruce Beattie, CEO of SSWM, stated, "We are pleased to have another CFE
generating plant project authorized for cleanup of hydrocarbon contaminants
by Environmental Tec and UNAM.  Now that the budget authorization has been
made we will work diligently to finalize the operating contract for the
cleanup with CFE, Environmental Tec and UNAM so that we can begin the
project before the end of the year.  As with our other CFE contracts, the
Environmental Tec subcontract amount is subject to negotiation and project
tasks, but Environmental Tec generally receives 70-75% of the authorized
budget for the project and this amount is subject to increase due to
engineering change orders after the project is commenced based upon final
actual volumes of materials to be treated."

              About Sub-Surface Waste Management

Sub-Surface Waste Management Inc. is a majority owned subsidiary of U.S.
Microbics, Inc., and provides comprehensive civil and environmental
engineering project management services including specialists to design,
permit, build and operate environmental waste clean-up treatment systems
using conventional, biological and filtration technologies.  SSWM is
capitalizing on its patented technologies registered in Mexico with SEMARNAT
a Federal regulatory agency overseeing environmental compliance nationwide.

                        *    *    *

As reported in the Troubled Company Reporter on April 17, 2006,
Standard & Poor's Ratings Services placed an mxBB+ long-term rating with
stable outlook on the state of Mexico.




=================
N I C A R A G U A
=================


* NICARGUA: Two Groups Keen on Supplying Firm 100 Megawatts
-----------------------------------------------------------
An official with the projects execution unit of Enel, the state-owned power
firm of Nicaragua, told Business News Americas that two groups have
expressed interest to supply up to 100 megawatts of power.

BNamericas relates that Enel gave potential bidders the option to supply the
power through:

          -- diesel power supply barge at Corinto port on the
             Pacific, or

          -- modular power supply plants at Los Brasiles
             substation and/or Las Brisas in Managua department.

The official told BNamericas that the two groups chose the barge option.

An evaluation committee is given 10 days to determine if the expressions of
interest meet contract requirements, BNamericas says, citing the official.

BNamericas underscores that the contract will be effective for five years,
with the possibility of an extension for the same period.  The winner must
start supplying power in 120 days.  Enel will buy the power through Gecsa,
its generation unit.

Five groups presented expression of interest on supplying 20 megawatts from
diesel or bunker sources for a year under a lease accord, BNamericas says,
citing the official.  The power must be supplied in 60 days.  It would
satisfy peak demand.

BNamericas states that the names of the entities submitting interest in the
projects were not disclosed.

The accords are designed to alleviate the energy crisis in Nicaragua,
BNamericas reports.

                        *    *    *

Moody's Investor Service assigned these ratings to Nicaragua:

                     Rating     Rating Date

   Long Term          Caa1     June 30, 2003
   Senior Unsecured
   Debt                B3      June 30, 2003




=======
P E R U
=======


PETROLEO BRASILEIRO: Could Invest US$3.42B in Peru in Two Years
---------------------------------------------------------------
Pedro Grijalba, the chief executive officer of Petroleo Brasileiro's
Peruvian unit, told Gestion that the parent company could invest US$3.42
billion in Peru over two years.

Gestion relates that Petroleo Brasileiro would make half of the investments
in the first year and close all its projects within two years.

According to Business News Americas, the amount relates to a US$1.5-billion
ammonia and urea plant that would produce an average of 540,000 tons
annually, with about 200,000 tons being consumed in Peru's market yearly.

BNamericas underscores that Petroleo Brasileiro is analyzing:

          -- a US$800-million reorganization of the Talara
             plant;

          -- a US$150 million, 260-megawatt thermo generation
             project;

          -- US$50 million in works related to compressed
             natural gas, propane and butane;

          -- two gas pipelines in southern Peru with combined
             capacity of 170 million cubic meters per day; and

          -- a gas distribution project with Praxair, a
             industrial gas manufacturer in the United States.

Petroleo Brasileiro would invest up to US$90 million in block 10 in 2007.
In the next 6-7 years the company will drill about 732 wells on the block.
On block 58, Petroleo Brasileiro would invest up to US$40 million in the
last half of 2007 and consider drilling a first well on block 110 during
2009 to 2010 for US$25 million.

Block 112 would require up to US$40-million investment from 2008 to 2009.
Block 117 could be integrated with blocks in Colombia and Ecuador for a
long-term coal project, Mr. Grijalba told Gestion.

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro
S.A. aka Petrobras was founded in 1953.  The company explores, produces,
refines, transports, markets, distributes oil and natural gas and power to
various wholesale customers and retail distributors in Brazil.

                        *    *    *

Petroleo Brasileiro SA's long-term corporate family rating is rated Ba3 by
Moody's.

                        *    *    *

Fitch Ratings assigned these ratings on Petroleo Brasileiro's senior
unsecured notes:

  Maturity Date           Amount        Rate       Ratings

  April  1, 2008      US$400,000,000    9%          BB+
  July   2, 2013      US$750,000,000    9.125%      BB+
  Sept. 15, 2014      US$650,000,000    7.75%       BB+
  Dec.  10, 2018      US$750,000,000    8.375%      BB+

Fitch upgraded the foreign currency rating of Petrobras to BB+ from BB, with
positive outlook, in conjunction with Fitch's upgrade of the long-term
foreign and local currency IDRs of the
Federative Republic of Brazil to BB, from BB- on June 29, 2006.


* PERU: Perupetro Signing 18 Exploration & Production Contracts
---------------------------------------------------------------
The Peruvian energy and mines ministry said in a statement that Perupetro,
the country's hydrocarbons promotions agency, will enter into 18 exploration
and production accords through the end of 2006.

According to a statement, Perupetro plans to sign the first of the contracts
for block 122 in Peru's Maranon basin with Gran Tierra Energy, an oil
company in Canada, on Nov. 3.

Business News Americas relates that the signing follows a
Sept. 27 supreme decree that authorized an initial contract Gran Tierra
signed for the area in June.

Dana Coffield, the president and chief executive officer of Gran Tierra,
told BNamericas that the block will mark the firm's entry into Peru.  Gran
Tierra will evaluate expansion through the acquisition of production assets
and exploration and production contracts with the government.

BNamericas underscores that Gran Tierra will start aerogravity and magnetic
testing in early 2007, followed by a 2D seismic program and the drilling of
a well.

Winston Wusen, the senior promotions coordinator of Perupetro, told
BNamericas that the agency is also negotiating eight contracts in the
jungle, the continental shelf and the northern coast.  Perupetro has not
determined which contracts it will sign by the end of 2006.

According to BNamericas, Mr. Wusen said that Perupetro is negotiating the
contracts for:

          -- block XXII in the Lancones basin,
          -- block Z-38 in the Progreso and Tumbes basins,
          -- block 125 in the Huallaga basin,
          -- block 126 in the Ucayali basin,
          -- block 116 in the Santiago basin,
          -- blocks Z-34 and XVI in the Talara basin, and
          -- block 127 in the Maranon basin.

                        *    *    *

Fitch Ratings assigned these ratings on Peru:

                     Rating     Rating Date

   Country Ceiling     BB      Nov. 18, 2004
   Long Term IDR       BB      Dec. 14, 2005
   Short Term IDR      B       Dec. 14, 2005
   Local Currency
   Long Term Issuer
   Default Rating      BB+     Dec. 14, 2005




=====================
P U E R T O   R I C O
=====================


ADELPHIA COMMS: N.Y. Electric Wants Admin. Expense Claim Allowed
----------------------------------------------------------------
New York Electric and Gas Company asks the U.S. Bankruptcy Court
for the Southern District of New York to allow its administrative expense
claim against Adelphia Communications Corporation and its debtor-affiliates
for:

   (1) US$55,367, including but not limited to at least
       US$40,912 against the JV Debtors specifically against
       Parnassos, for amounts owing under the Joint Use
       Agreements;

   (2) US$75,457, including an unliquidated amount against the
       JV Debtors, for amounts owing on NYSEG's utility accounts
       with the ACOM Debtors; and

   (3) an unliquidated amount for amounts owing from Parnassos
       under the License Agreement.

NYSEG also asks the Court to direct the ACOM Debtors to promptly
pay the amounts.

NYSEG was a party to numerous pole attachment/joint use agreements and joint
pole billing relationships with the ACOM Debtors, including Parnassos, LP.
NYSEG provided joint use services to the ACOM Debtors after the date of
filing for chapter 11 protection through the Effective Date of the Third
Modified Fourth Amended Joint Plan of Reorganization for the Century-TCI
Debtors and the Parnassos Debtors, when the Joint Use Agreements were each
assigned to Time Warner Cable NY, LLC.

NYSEG relates that the amount due and owing for services provided under the
Joint Use Agreements totals US$55,367.

Pursuant to pleadings and notices filed and served by the ACOM
Debtors, Parnassos was the counterparty to at least four Joint Use
Agreements, dated March 23, 1984; Sept. 22, 1986; Sept. 22, 1986; and Sept.
27, 1984.

NYSEG relates that Parnassos did not originally executed the four Joint Use
Agreements, and NYSEG has not located, and the ACOM Debtors have not
provided, documentation showing an assignment of these contracts to
Parnassos.  In addition, NYSEG relates that its billing records do not
reflect Parnassos as the applicable counterparty.

Jil Mazer-Marino, Esq., at Rosen Slome Marder LLP, in Uniondale,
New York, states that NYSEG's records do not reflect any Joint Use
Agreements with Parnassos or any JV Debtors as the applicable Debtor
counterparty.  Based upon representations of the Debtors' counsel regarding
the applicable counterparties to various Joint Use Agreements, however,
NYSEG believes that at least US$40,912 of the US$55,367 is owing from the JV
Debtors, specifically from Parnassos.

NYSEG was also a party to a Site License dated March 1, 2001, with
Parnassos, under which Parnassos leased from NYSEG ground space, rack space,
tower space and associated real property for the mounting of antennas and
other telecommunications equipment.
Parnassos leased the premises through the Effective Date, when the License
Agreement was assigned to Time Warner.

As of Sept. 13, 2006, NYSEG has been unable to determine the
amounts, if any, that are owing under the License Agreement
through the Effective Date.

NYSEG also provided postpetition utility service to the ACOM
Debtors on numerous accounts through the Effective Date.  The
total amount owing to NYSEG on these accounts for service provided through
the Effective Date is US$75,457.  All invoices have been provided to the
Debtors.  Based on NYSEG's records, it is unclear whether the customer on
any of these accounts was a JV Debtor.

According to Ms. Mazer-Marino, NYSEG believes that the ACOM
Debtors routinely failed to update the customer names or provide
correct customer names on many utility service accounts.  Thus,
NYSEG is unable to identify with any certainty which ACOM entity
is the customer on its various utility accounts with the ACOM
Debtors.

As of Sept. 13, 2006, NYSEG has not received payment for any of
the administrative expenses amounts.

Ms. Mazer-Marino asserts that the postpetition joint use, license and
utility services provided by NYSEG to the ACOM Debtors constitute actual,
necessary expenses of preserving the their estates and are entitled to an
administrative expense priority pursuant to Section 503(b) of the Bankruptcy
Code.

Based in Coudersport, Pa., Adelphia Communications Corporation
(OTC: ADELQ) -- http://www.adelphia.com/-- is the fifth-largest
cable television company in the country.  Adelphia serves
customers in 30 states and Puerto Rico, and offers analog and
digital video services, high-speed Internet access and other
advanced services over its broadband networks.  The Company and
its more than 200 affiliates filed for Chapter 11 protection in
the Southern District of New York on June 25, 2002.  Those cases
are jointly administered under case number 02-41729.  Willkie Farr &
Gallagher represents the ACOM Debtors.  PricewaterhouseCoopers serves as the
Debtors' financial advisor.  Kasowitz, Benson, Torres & Friedman, LLP, and
Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of
Unsecured Creditors.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas Manged Entities, are
entities that were previously held or controlled by members of the Rigas
family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision, LLC.  The RME Debtors filed for chapter 11 protection on March
31, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10622 through 06-10642).  Their cases
are jointly administered under Adelphia Communications and its
debtor-affiliates chapter 11 cases.  (Adelphia Bankruptcy News, Issue No.
149; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


ADELPHIA COMMS: SCEC Seeks Court Nod on $718,234 Expense Claim
--------------------------------------------------------------
Southern California Edison Company asks the U.S. Bankruptcy Court for the
Southern District of New York to:

    -- allow its administrative expense claim against Adelphia
       Communications Corporation and its debtor-affiliates for
       US$718,234, including but not limited to at least
       US$308,052 against the JV Debtors, specifically Century-
       TCI; and

    -- direct the ACOM Debtors to promptly tender those amounts
       to SCE as payment for its services after the Debtors'
       filing for chapter 11 protection.

Southern California Edison Company and Century-TCI California,
L.P., were parties to numerous pole attachment agreements.  SCE
provided joint use services to Century-TCI after the Debtors'
filing for chapter 11 protection through July 31, 2006, the
effective date of the Third Modified Fourth Amended Joint Plan of
Reorganization for the Century-TCI Debtors and the Parnassos
Debtors.  SCE was also a party to several pole attachment
agreements with various other ACOM Debtors.

SCE asserts that the total amount due and owing for services it
provided to the ACOM Debtors under the Joint Use Agreements from
the Petition Date to the Effective Date is US$413,349.  SCE relates that at
least US$174,506 of the US$413,349 is due and owing from the JV Debtors,
specifically from Century-TCI.

SCE informs the Court that Century-TCI was also a counterparty to a Master
Services Agreement dated May 1, 2001, between SCE and ACOM.  The total
amount due and owing to SCE under the MSA from the Debtors' Date of filing
for chapter 11 protection to the Effective Date is US$133,546.

In addition, SCE provided postpetition electric utility service to the ACOM
Debtors on over 1,200 accounts through the Effective
Date.  None of the accounts actually reflect the customer name as any of the
JV Debtors.  Nevertheless, it is SCE's understanding and belief that the
Debtors routinely failed to update the customer names and provide correct
customer names on many utility service accounts.  Thus, SCE is unable to
identify with any certainty which ACOM entity is the customer on many of its
utility accounts with the ACOM Debtors.

Accordingly, out of an abundance of caution, SCE is including all of its
accounts with the ACOM entities in its administrative
expense claim against the JV Debtors for utility service, which is being
filed separately.  In any event, the amounts constitute
administrative expense claims against the ACOM Debtors' Chapter 11 cases.

The total amounts owing on SCE's utility service accounts with the ACOM
Debtors for postpetition service through the Effective Date is US$171,339.

As of Sept. 13, 2006, SCE has not received payment for the
administrative expenses.

Jil Mazer-Marino, Esq., at Rosen Slome Marder LLP, in Uniondale,
New York, asserts that the postpetition joint use and utility
services provided by SCE to the ACOM Debtors constitute actual,
necessary expenses of preserving the Debtors' estates and are
entitled to an administrative expense priority pursuant to Section 503(b) of
the Bankruptcy Code.

Based in Coudersport, Pa., Adelphia Communications Corporation
(OTC: ADELQ) -- http://www.adelphia.com/-- is the fifth-largest
cable television company in the country.  Adelphia serves
customers in 30 states and Puerto Rico, and offers analog and
digital video services, high-speed Internet access and other
advanced services over its broadband networks.  The Company and
its more than 200 affiliates filed for Chapter 11 protection in
the Southern District of New York on June 25, 2002.  Those cases
are jointly administered under case number 02-41729.  Willkie Farr &
Gallagher represents the ACOM Debtors.  PricewaterhouseCoopers serves as the
Debtors' financial advisor.  Kasowitz, Benson, Torres & Friedman, LLP, and
Klee, Tuchin, Bogdanoff & Stern LLP represent the Official Committee of
Unsecured Creditors.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas Manged Entities, are
entities that were previously held or controlled by members of the Rigas
family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision, LLC.  The RME Debtors filed for chapter 11 protection on March
31, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10622 through 06-10642).  Their cases
are jointly administered under Adelphia Communications and its
debtor-affiliates chapter 11 cases.  (Adelphia Bankruptcy News, Issue No.
149; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


GLOBAL HOME: Wants to Reject Three Executory Contracts
------------------------------------------------------
Global Home Products LLC and its debtor-affiliates ask the U.S.
Bankruptcy Court for the District of Delaware for authority to
reject three unexpired executory contracts.  A list of the
contracts is available for free at:

           http://researcharchives.com/t/s?13aa

The rejected contracts identified by the Debtors include unexpired executory
contracts for office equipment, office furniture and computer systems.  The
Debtors no longer require these contracts as a result of downsizing and
consolidation efforts or previous sale of assets.  According to the Debtors,
rejection of the contracts will avoid unnecessary additional costs to their
estates.

The Debtors also ask the Court to fix a bar date for claims of any counter
parties resulting from the contracts rejection.  They want the bar date set
at 30 days after the Court approves their contract rejection plea.

The Court will convene a hearing to consider the Debtors' request on Oct.
24, 2006, 11:00 a.m., at the US District Court, 844 King St., Courtroom #2B
in Wilmington Delaware.

Headquartered in Westerville, Ohio, Global Home Products, LLC
-- http://www.anchorhocking.com/and http://www.burnesgroup.com/
-- sells houseware and home products and manufactures high
quality glass products for consumers and the food services
industry.  The company also designs and markets photo frames,
photo albums and related home decor products.  The company and
16 of its affiliates, including Burnes Puerto Rico, Inc., and
Mirro Puerto Rico, Inc., filed for Chapter 11 protection on
April 10, 2006 (Bankr. D. Del. Case No. 06-10340).  Laura Davis
Jones, Esq., Bruce Grohsgal, Esq., James E. O'Neill, Esq., and
Sandra G.M. Selzer, Esq., at Pachulski, Stang, Ziehl, Young,
Jones & Weintraub LLP, represent the Debtors.  Bruce Buechler,
Esq., at Lowenstein Sandler, P.C., and David M. Fournier, Esq., at Pepper
Hamilton LLP represent the Official Committee of Unsecured Creditors.  Huron
Consulting Group LLC gives financial advice to the Committee.  When the
company filed for protection from their creditors, they estimated assets
between US$50 million and US$100 million and estimated debts of more than
US$100 million.


HC CARIBBEAN: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: HC Caribbean Chemicals, Inc.
        P.O. Box 7461
        Ponce, PR 00732
        Tel: (787) 844-7260
        Fax: (787) 843-0265

Bankruptcy Case No.: 06-03960

Type of Business: The Debtor sells chemical, industrial, and
                  janitorial cleaning products.  The company is
                  the exclusive distributor for Zep Products in
                  Puerto Rico.

Chapter 11 Petition Date: Oct. 16, 2006

Court: District of Puerto Rico (Old San Juan)

Judge: Gerardo Carlo Altieri

Debtor's Counsel: Nydia Gonzalez Ortiz, Esq.
                  Santiago & Gonzalez
                  11 Calle Betances
                  Yauco, PR 00698
                  Tel: (787) 267-2205

Estimated Assets: More than US$100 Million

Estimated Debts:  More than US$100 Million

The Debtor did not file a list of its 20 largest unsecured
creditors.


MUSICLAND HOLDING: James Hayes Wants Stay Lifted to Pursue Suit
---------------------------------------------------------------
James and Susan Hayes ask the U.S. Bankruptcy Court for the
Southern District of New York to lift the automatic stay to allow them to
commence:

   (a) negotiations with St. Paul Travelers Insurance with
       regards to the personal injury incident; and

   (b) an action for negligence against the Debtor in the
       Supreme Court, County of Erie.

Joel A. McMahon, Esq., at Watson, Bennett, Colligan, Johnson &
Schechter, L.L.P., in Buffalo, New York, relates that in February 2004, Mr.
Hayes suffered severe injuries to his left lower extremities when he slipped
and fell in the parking lot of a Mediaplay store.  The Mediaplay store is
owned and managed by
Musicland Group, Inc.

Mr. McMahon asserts that Mr. Hayes sustained his injuries due to
the Musicland Holding Corp. and its debtor-affiliates' negligence.

Mr. Hayes believes that the Debtor carried insurance on the store property
with St. Paul Travelers Insurance Company, and that any claims made by him
or Susan Hayes would be well within the limits of that insurance policy.

Mr. McMahon maintains that the Debtor and its creditors will not be
prejudiced by the lifting of the automatic stay as Mr. Hayes seeks to
proceed only against the Debtor's insurance coverage.  None of the Debtor's
assets will be affected by the outcome of any litigation of the matter, Mr.
McMahon adds.

Headquartered in New York, New York, Musicland Holding Corp., is a specialty
retailer of music, movies and entertainment-related
products.  The Debtor and 14 of its affiliates filed for chapter
11 protection on Jan. 12, 2006 (Bankr. S.D.N.Y. Lead Case No. 06-10064).
James H.M. Sprayregen, Esq., at Kirkland & Ellis,
represents the Debtors in their restructuring efforts.   Mark T.
Power, Esq., at Hahn & Hessen LLP, represents the Official
Committee of Unsecured Creditors.  When the Debtors filed for
protection from their creditors, they estimated more than $100
million in assets and debts.  (Musicland Bankruptcy News, Issue
No. 20; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


WESCO INT: Reports US$1.3B Net Sales for Third Quarter 2006
-----------------------------------------------------------
WESCO International, Inc.'s consolidated net sales for the third quarter of
2006 increased 18.7% to US$1,343 million, compared with US$1,131 million in
2005.  Included are sales from two acquisitions completed in the third
quarter of 2005 totaling approximately US$103 million.  Gross margin for the
quarter was 20.5% compared with 18.4% for the comparable 2005 quarter. The
company's operating income for the current quarter totaled US$100.2 million
versus US$47.3 million in last year's comparable quarter.  Depreciation and
amortization included in operating income was US$6.7 million for 2006
compared with US$3.7 million in 2005.  Net income for current quarter was
US$59.4 million versus US$25.0 million in the comparable 2005 quarter.
Diluted earnings per share for the quarter were US$1.13 per share versus
US$0.51 per share in 2005.

Stephen A. Van Oss, the Senior Vice President and Chief Financial Officer,
stated, "Our financial results for the quarter were outstanding.  Sales
growth remained strong as we continued to see broad customer demand across
our end markets.  The third quarter marked the tenth consecutive quarter of
double- digit sales growth.  Operating income and net income of US$100
million and US$59 million, respectively, are all-time records for the
Company.  This performance was driven by gross margin expansion, continued
cost control, and excellent execution at all levels of the organization."

Mr. Van Oss said, "Our overall financial condition is strong. We are
executing well on our business model, which produces excellent incremental
profit and generates strong free cash flow.  We generated over US$67 million
of free cash flow during the third quarter and over US$135 million on a
year-to- date basis. Free cash flow has been utilized to invest in our
business, fund highly accretive acquisitions, and reduce debt.  Our
financial leverage and liquidity are at Company-best levels."

               Communications Supply Corp.

WESCO International has entered into a definitive purchase agreement to
acquire Communications Supply Holdings, Inc. from Harvest Partners LLC, a
New York based private equity firm.  Communications Supply Corporation,
Inc., the operating subsidiary of Communications Supply Holdings, Inc. with
headquarters in Carol Stream, Illinois, was founded in 1972.  Full year 2006
revenues are estimated to be approximately US$600 million. The company is a
leading national distributor of low voltage network infrastructure and
industrial wire and cable products.  Through its network of 32 branches,
Communications Supply distributes a full range of products to support
advanced connectivity for voice and data communications, access control,
security surveillance, and building automation.  Communications Supply's
sales force consists of over 300 associates, and its marketing activities
reflect a strong focus on the Fortune 1000 and large institutional customers
in the United States.
The company is proceeding towards closing in the first week of November
2006.  Communications Supply is expected to be immediately accretive to
earnings per share and should add US$0.04 in 2006 and US$0.35 to US$0.40 in
2007.

                      Year to Date Results

Consolidated net sales for the nine months ended Sept. 30, 2006 were
US$3,945 million versus US$3,184 million in last year's comparable period, a
23.9% increase.  Sales from the two previously mentioned acquisitions for
the first nine months totaled US$317 million.  Gross margin in the current
nine-month period was 20.3% versus 18.5% last year and operating income
totaled US$271.8 million versus US$134.8 million last year.  Depreciation
and amortization included in operating income was US$19.2 million versus
US$11.3 million last year.  Net income for the 2006 year-to-date period was
US$159.0 million versus US$63.8 million last year, which included a charge
for redeeming a portion of the Company's senior subordinated notes and a
charge for settlement of a legal matter. Diluted earnings per share were
US$3.04 per share in 2006 versus US$1.30 per share in 2005.

Roy W. Haley, Chairperson and Chief Executive Officer of WESCO
International, commented, "We anticipate that WESCO's emphasis on sales and
organizational productivity will continue to drive above average growth,
scale economies, and increasing profitability.  Our 6,000+ WESCO employees
have done a great job of extending and improving our base business while
also achieving targeted synergies and successfully integrating recent
acquisitions."

Mr. Haley stated, "We are very optimistic about the planned acquisition of
Communications Supply Corp.  CSC (Communications Supply Corp.) has a
consistent track record of sales growth and high quality customer service,
and we believe that it is an excellent fit with our strategy of investing in
organic growth initiatives while also adding accretive acquisitions that can
provide a broader range of products and services to our customers."

Headquartered in Pittsburgh, Pennsylvania, WESCO International,
Inc., is a publicly traded Fortune 500 holding company, whose primary
operating entity is WESCO Distribution, Inc.  WESCO Distribution is a
distributor of electrical construction products and electrical and
industrial maintenance, repair and operating supplies, and is the nation's
largest provider of integrated supply services.  WESCO operates eight fully
automated distribution centers and approximately 370 full-service branches
in North America and selected international markets including Mexico and
Puerto Rico, providing a local presence for area customers and a global
network to serve multi-location businesses and multi-national corporations.

                        *    *    *

As reported in the Troubled Company Reporter on June 14, 2006,
Moody's affirmed the B2 ratings on both WESCO's guaranteed senior
convertible debentures due 2025 and WESCO Distribution, Inc.'s guaranteed
senior subordinated notes due 2017, and WESCO's Ba3 corporate family rating.




=================================
T R I N I D A D   &   T O B A G O
=================================


DIGICEL LTD: Says Telecommunications Service Blocks Firm's Calls
----------------------------------------------------------------
Digicel Ltd. has claimed that the Telecommunications Services of Trinidad
and Tobago aka TSTT intentionally blocked the former's calls, the Trinidad
Express reports.

The Express relates that TSTT denied the accusation.

Kevin White, the chief executive officer of Digicel Trinidad and Tobago,
told reporters that the company has evidence verified by the
Telecommunications Authority of Trinidad and Tobago or TATT indicating that
since Digicel's launch, TSTT has been deliberately making it very difficult
for Digicel clients to make connections with TSTT fixed and mobile numbers
by blocking calls.

"The investigations conducted by engineers from the Authority revealed that
the call completion rate was unacceptably low for calls from Digicel to
TSTT's fixed and mobile networks," The Express says, citing TATT, which also
conducted its own investigation on the matter.

TATT told The Express that it has written to TSTT to bring the complaint to
their attention, saying that the matter was of critical importance.

Mr. White told The Express, "By stopping calls from their competitor, we
believe TSTT is sending another clear signal that they do not support
competition and will do everything in their power to prevent the development
of a healthy, competitive and vibrant telecommunications industry in
Trinidad and Tobago."

However, TSTT said that the company has, at every juncture, facilitated the
Trinidad government's policy for liberalizing the local telecom market even
without an interconnection accord.  TSTT said that claims saying that the
firm would willfully frustrate a process that it has actively helped shape
and support are wholly misguided, The Express notes.

TSTT told The Express that statements from Digicel officials are aimed at
distracting others from the fact that after two months, Digicel continues to
resist the conclusion of an interconnection agreement.

However, Kevin Barrins, the interconnection director of Digicel Group, told
The Express that the law doesn't speak of interconnection accords.  Rather,
the law requires that calls are let through.

"The interconnect agreement and the disputes we've had about interconnect
agreement is an issue between two corporations, it has nothing to do with
our obligations under the law for providing services to each other," The
Express says, citing Mr. Barrins.

The Express emphasizes that Mr. Barrins urged the government to exercise its
51% shareholding, as this issue is of national importance, as it is linked
to the security of the natino's citizenry, business climate and government
operations.

Mr. Barrins told The Express, "I've been to interconnection meetings here in
Trinidad for the last 12 months -- who do I meet at the door when I go into
those meetings?  It's not people who work for TSTT, the vast majority of the
people I've met are Cable and Wireless employees coming from other
countries, that fly in and out for the day.  Now, Cable and Wireless are
only a 49% shareholder -- it's time that Government exercise its 51%
shareholding."

Meanwhile, calls on the Digicel network are working well and there is
absolutely no congestion on Digicel's network, The Express says, citing Mr.
White.

Digicel Ltd. is a wireless services provider in the Caribbean region founded
in 2000, and controlled by Denis O'Brien.  The company started operations in
Jamaica in April 2001 and now offers GSM mobile services in Caribbean
countries including Jamaica, St. Lucia, St. Vincent, Aruba, Grenada,
Barbados, Bermuda, Cayman, and Curacao among others.  Digicel finished
FY2005 with 1.722 million total subscribers -- 97% pre-paid -- estimated
market share of 67% and revenues and EBITDA of US$478 million and US$155
million, respectively.

                        *    *    *

On July 12, 2006, Moody's Investors Service assigned a B3 senior unsecured
rating to the US$150 million add-on Notes offering of Digicel Limited and
affirmed Digicel's existing B3 senior unsecured and B1 Corporate Family
Ratings.  Moody's changed the outlook to stable from positive.

                        *    *    *

Fitch Ratings assigned on July 14, 2006, a 'B' rating to Digicel Ltd's
proposed add-on offering of US$150 million 9.25% senior notes due 2012.
These notes are an extension of the US$300 million notes issued in July
2005.  In addition, Fitch also affirms Digicel's foreign currency Issuer
Default Rating and the existing US$300 million senior notes due 2012 at 'B'.
Fitch said the rating outlook is stable.




=============
U R U G U A Y
=============



BEARINGPOINT INC: Names Judy Ethell as Chief Financial Officer
--------------------------------------------------------------
BearingPoint, Inc., named Judy Ethell -- a member of its executive
leadership team and the company's Chief Accounting Officer -- as Chief
Financial Officer.  She will report to Harry You, the company's Chief
Executive Officer.

Ms. Ethell will retain her title as Chief Accounting Officer while Mr. You,
who became interim Chief Financial Officeer in May 2005, will focus solely
on his role as Chief Executive Officer.

As BearingPoint's Executive Vice President and Chief Accounting Officer over
the last 15 months, Ms. Ethell transformed the finance organization, leading
a comprehensive effort to retool and materially upgrade BearingPoint's
accounting, financial reporting and auditing functions.  Her involvement was
crucial to the completion of the audit of the company's 2004 financial
statements and she is leading the effort to complete the audit on the 2005
and 2006 financial statements.  Ms. Ethell was also responsible for
developing and implementing new global financial control, human resource,
and client reporting systems.

Mr. You said, "Judy has been instrumental in driving our efforts to become
compliant with our filings, to transform our finance organization and to
create a platform upon which we can deliver the highest quality service to
our global customer base.  I have worked directly with Judy over the past
year and have seen firsthand her strength leading our corporate finance and
accounting initiatives.  Judy's tremendous contribution to the finance
transformation efforts taking place across BearingPoint made her the clear
choice for the job."

A native of St. Louis, Mo., and a Certified Public Accountant for 23 years,
Ms. Ethell has more than 20 years of professional experience working with
Fortune 500 companies with Sarbanes-Oxley readiness and testing from a
systems, processes and procedures perspective.  Prior to joining
BearingPoint in July 2005, Ethell served as Tax Partner in charge of the St.
Louis office of PricewaterhouseCoopers, LLP, where she was responsible for
managing 120 professionals in all aspects of the business.

Ms. Ethell said, "I am thrilled to continue my efforts under Harry and work
with the BearingPoint management team in this new role.  Together, we have
achieved significant progress in a short time, and we are now much better
positioned for future success.  I look forward to the opportunities of the
new position."

Headquartered in McLean, Virginia, BearingPoint, Inc. is a I/T systems
integrator, consultancy, and managed services provider for commercial and
governmental entities worldwide.  BearingPoint has operations in these Latin
American countries:
Argentina, Aruba, Brazil, Bolivia, Chile, Colombia, Costa Rica,
Curacao, Dominican Republic, Ecuador, Jamaica, Mexico,
Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Suriname,
Uruguay, Venezuela.

                        *    *    *

As reported in the Troubled Company reporter on Oct. 11, 2006, Moody's
downgraded and placed these ratings on review for further possible
downgrade:

   * Corporate Family Rating --downgraded to B2 from B1

   * US$250 million series A subordinated convertible bonds due
     2024 --downgraded to B3 from B2

   * US$200 million series B subordinated convertible bonds due
     2024 -- downgraded to B3 from B2


BEARINGPOINT: Gets US$69MM Deal to Boost Jordan Competitiveness
---------------------------------------------------------------
BearingPoint, Inc., has been awarded a contract by the United States Agency
for International Development or USAID to implement the Sustainable
Achievement of Business Expansion and Quality program or SABEQ for Jordan.
The purpose of SABEQ is to spur economic growth and reduce poverty in the
country by increasing the number of jobs available to Jordanians and
enhancing the competitiveness of Jordanian firms, important steps the
Government of Jordan is taking to meet its goal of increasing economic
growth to reduce poverty.  The five-year contract is estimated at
approximately US$69 million.

The SABEQ program is the cornerstone of USAID and Jordan's economic growth
efforts, and is designed to provide a flexible and integrated set of
services in four areas:

   -- Improve financial integrity, oversight and broaden capital
      markets,

   -- Expand trade and investment,

   -- Remove Government of Jordan constraints to achieving
      private sector competitiveness, and

   -- Enhance productivity.

James Horner, the senior vice president of BearingPoint's Emerging Markets
practice, stated, "BearingPoint's extensive experience in economic
governance for a wide range of international economies will be a tremendous
asset to this project.  Our team looks forward to continuing to work with
USAID and the Government of Jordan on this and other projects."

This is the second recent contract BearingPoint has received through USAID
to work with the Government of Jordan.  Earlier this year, BearingPoint was
awarded a US$14 million contract to provide technical assistance in the area
of fiscal reform, with a focus on tax policy, tax administration and budget
management.

BearingPoint's Emerging Markets practice is active in approximately 60
nations worldwide, providing management, economic, and technology consulting
services to developed and developing economies.  Several core areas of
expertise within the Emerging Markets practice include:

   -- Accelerating public sector reform, promoting economic
      growth and improving public services;

   -- Creating an environment to support private sector growth,
      attracting new investment and increasing employment; and

   -- Using information technology to build capacity and enhance
      competitiveness.

Headquartered in McLean, Virginia, BearingPoint, Inc. is a I/T systems
integrator, consultancy, and managed services provider for commercial and
governmental entities worldwide.  BearingPoint has operations in these Latin
American countries:
Argentina, Aruba, Brazil, Bolivia, Chile, Colombia, Costa Rica, Curacao,
Dominican Republic, Ecuador, Jamaica, Mexico, Nicaragua, Panama, Paraguay,
Peru, Puerto Rico, Suriname,
Uruguay, Venezuela.

                        *    *    *

As reported in the Troubled Company reporter on Oct. 11, 2006, Moody's
downgraded and placed these ratings on review for further possible
downgrade:

   * Corporate Family Rating -- downgraded to B2 from B1

   * US$250 million series A subordinated convertible bonds due
     2024 -- downgraded to B3 from B2

   * US$200 million series B subordinated convertible bonds due
     2024 -- downgraded to B3 from B2


* URUGUAY: Enters Into Liability Management Transactions
--------------------------------------------------------
The Republic of Uruguay disclosed a series of liability management
transactions intended to improve its external debt profile and reduce its
vulnerability to external shocks.  The transactions comprise offers to
holders of 20 outstanding series of Uruguay's foreign currency external
bonds maturing on or prior to 2019 and one series due 2027 to:

   (a) exchange those instruments through concurrent modified
       Dutch auctions for Uruguay's 8.00% US$ Bonds due 2022 or
       its 7.625% US$ Bonds due 2036 to be issued by the
       Republic of Uruguay upon settlement of the transaction,
       or

   (b) tender Eligible Bonds in a cash tender offer conducted
       concurrently with the exchange offers.

The cash tender offer will be funded in whole or in part with the net
proceeds of an offering of 5.00% UI Bonds due 2018 and 7.625% Bonds due
2036, also announced today.

Approximately US$2.2 billion aggregate principal amount of Eligible Bonds
are eligible to participate in the exchange offers and the cash tender
offer.

The Exit Bonds are described in a Prospectus dated June 5, 2006 and a
Prospectus Supplement dated Oct. 19, 2006, that have been filed with the
U.S. Securities and Exchange Commission.  Upon issuance, each series of Exit
Bonds will be consolidated with and form part of the outstanding bonds of
the same series.

Citigroup, Morgan Stanley and UBS Investment Bank act as Dealer Managers for
the Offer, and Citibank N.A. acts as Exchange Agent.

Representatives of the Republic will make themselves available to investors
in major financial centers to describe the transaction in greater detail.

The expiration date for the offer is Oct. 27, 2006.  Settlement is currently
expected to take place on or about Nov. 14, 2006.

Since the reprofiling of its financial liabilities in 2003, Uruguay has
implemented several measures to extend and improve the maturity curve of its
external debt.  These measures are designed among other objectives to limit
Uruguay's vulnerability to external shocks, and at the same time reduce
risks for investors.  "The transaction we are announcing today," said
Minister Astori, "reaffirms Uruguay's commitment to manage its debt
responsibly and provide a solid basis for the sustainable development of our
economy."

Holders of Eligible Bonds or their custodians may request a copy of the
offering document and prospectus from:

          DF King
          Tel: 1-800-859-8511 (toll free number)
               1-(212)-269 5550 (collect; outside US).

When available, a copy of a written prospectus meeting the requirements of
Section 10 of the US Securities Act of 1933, as amended, may be obtained,
subject to applicable law, from:

          Citigroup
          Attn: Liability Management Group
          390 Greenwich Street,
          New York, New York 10013
          Tel: (800) 558-3745 (toll free)
               (212) 723-6108 (collect; outside US)

                     or

          Morgan Stanley
          Attn: Liability Management Group
          1585 Broadway
          New York, New York 10036
          Tel: (800) 624-1808 (toll free)
               (212) 761-1864 (collect; outside US)

                     or

          UBS Investment Bank
          Attn: Liability Management Group
          677 Washington Boulevard
          Stamford, Connecticut 06901
          Tel: (888) 722-9555, ext. 4210 (toll free)
               (203) 719-4210 (collect; outside US)

Holders of Eligible Bonds desiring to participate in any of the exchange
offers or the cash tender offer must submit, or arrange to have submitted on
their behalf, a duly completed letter of transmittal electronically via the
Offer Website.  The Offer Website is only accessible by password, which a
holder may obtain by contacting:

          Citigroup
          Tel: 212-723-9474 (New York)
               44-207-986-9283 (London)

The holder, or the person acting on its behalf, must follow the procedures
for submitting the letter of transmittal and delivering bond instructions
described in the materials relating to the offers and the cash tender offer
posted at that Offer Website.

                        *    *    *

Fitch Ratings assigned these ratings on Uruguay:

                     Rating     Rating Date

   Country Ceiling     BB-      Mar. 7, 2005
   Long Term IDR       B+      Dec. 14, 2005
   Short Term IDR      B       Dec. 14, 2005
   Local Currency
   Long Term Issuer
   Default Rating      BB-      Mar. 7, 2005




=================
V E N E Z U E L A
=================


CITGO PETROLEUM: Selectman Withdraws Motion for Boycott
-------------------------------------------------------
Charlie Mock -- a member of the board of selectmen in Turner, Maine -- told
the Associated Press that he will withdraw his motion calling for a boycott
of Citgo Petroleum Corp.'s gas stations.

The board of selectmen is commonly the executive arm of town governments.

AP relates that Mr. Mock proposed last week that the town of Turner stop
doing business with Citgo Petroleum, as Venezuela's President Hugo Chavez
had insulted US President George W. Bush by calling the latter a devil in a
speech at a United Nations assembly in September.

Other communities have stopped doing business with Citgo Petroleum because
of what President Chavez said about President Bush, AP says, citing Mr.
Mock.

The board of selectmen voted 3-2 to instruct the town manager to determine
where the three local stations of Citgo Petroleum get their gas, AP notes.

However, Dennis Richardson, the chairperson of the board of selectmen, told
AP that selectmen don't have any right to ask businesses where they get
their product.  Mr. Richardson voted against Mr. Mock's motion.  In protest,
he resigned as chairperson of the board.

Mr. Richardson told AP, "Turner should not boycott local people who pay
taxes and employ town people.  It doesn't make sense."

Joan Bryant-Deschenes -- who owned the B&A Variety store, which sells gas
from Citgo Petroleum -- told AP that she was stunned when she learned about
the boycott, saying that it wouldn't hurt Chavez but it would hurt
businesses like hers that sell Citgo gas.

According to the report, Ms. Bryant-Deschenes said, "All it's going to do is
hurt small, local businesses.  We don't need more problems."

Ms. Bryant-Deschenes told AP that what Mr. Mock and the other selectmen did
was irresponsible.  She said she doesn't agree with President Chavez calling
President Bush names, but he has a right to free speech.

Stores that sell Citgo Petroleum gas are independently owned businesses and
are not owned by Citgo Petroleum, AP says, citing Denise McCourt, a
representative of the American Petroleum Institute in Washington.

Mr. Mock said in a letter sent to the Sun Journal of Lewiston that he would
withdraw the motion he made at the board next meeting.

"The discord created in this community by this well-intentioned, but
obviously not well-thought-out motion, is not worth any message that would
be sent by its passage," Mr. Mock told AP.

Headquartered in Houston, Texas, Citgo Petroleum Corp. --
http://www.citgo.com/-- is owned by PDV America, an indirect, wholly owned
subsidiary of Petroleos de Venezuela S.A., the state-owned oil company of
Venezuela.

PDVSA is Venezuela's state oil company in charge of the development of the
petroleum, petrochemical, and coal industry, as well as planning,
coordinating, supervising, and controlling the operational activities of its
divisions, both in Venezuela and abroad.

                        *    *    *

Standard and Poor's Ratings Services assigned a 'BB' rating on Citgo
Petroleum Corp.

Citgo Petroleum carries Fitch's BB- Issuer Default Rating.  Fitch also rates
the Company's US$1.15 billion senior secured revolving credit facility
maturing in 2010 at 'BB+', its US$700 million secured term-loan B maturing
in 2012 at 'BB+', and its senior secured notes at 'BB+'.


ELECTRICIDAD DE CARACAS: Planning Two New Share Issues
------------------------------------------------------
Julian Nebreda, the president of Electricidad de Caracas, told Business News
Americas that the firm is planning two new share issues for 2006 and 2007 to
help fund investments.

BNamericas relates that the investments include construction of the La Raisa
thermo plant outside Caracas.  The plant is designed to add 200 megawatts to
Electricidad de Caracas' 2,600-megawatt generation capacity by 2008.

Mr. Nebreda told BNamericas, "We are still evaluating the amount [of the
issues]; we have an investment plan for next year of US$120 million, US$40
million for La Raisa and the rest for other investments."

Electricidad de Caracas also plans to issue a small number of shares to
workers in the coming months, BNamericas, says, citing Mr. Nebreda.

Electricidad de Caracas is a vertically integrated utility in Venezuela,
operating in electricity distribution, transmission, and generation in the
capital city of Caracas and its metropolitan area.  It is the largest
private electric utility in the country and is owned by US-based AES Corp.
(B+/Positive/--).  Electricidad de Caracas reported net profits of US$20.6
million from January to March, versus net losses of US$26.9 the same period
in 2005.

                        *    *    *

On Feb 9, 2006, Standard & Poor's Ratings Services affirmed its
'B' long-term corporate credit rating on C.A. La Electricidad de
Caracas and its 'B' rating on Electricidad de Caracas Finance B.V.'s US$260
million senior unsecured notes.  S&P said the outlook is stable.

On Feb. 3, 2006, S&P raised the long-term local and foreign currency
sovereign credit ratings on the Bolivarian Republic of Venezuela to 'BB-'
from 'B+'.  The decision to raise the ratings on Venezuela was supported by
the continued sharp improvements in Venezuela's external indicators, which
are attributable to a large current account surplus, a high level of
international reserves, and lower external debt in addition to buoyant
economic growth and the potential buyback of external debt.


PEABODY ENERGY: Posts US$0.53 Third Quarter Earnings Per Share
--------------------------------------------------------------
Peabody Energy reported that earnings per share for the quarter ended Sept.
30, 2006 increased 26% to US$0.53 on net income of US$142.0 million.
Through nine months, earnings per share rose 63% to US$1.58 on record net
income of US$425.7 million.  EBITDA rose 15% to US$270.7 million for the
quarter and 31% to a record US$809.0 million through nine months.

Gregory H. Boyce, the Peabody President and Chief Executive Officer, stated
"Peabody continues to produce solid results again in 2006, posting the 12th
consecutive quarter of double-digit EBITDA growth over the prior year, and
we remain on track for another record year in 2007.  The strength of our
operating base to meet rising demand and manage costs, and the multi-year
benefit of sales commitments signed earlier, should lead to continued strong
earnings growth in 2007 and beyond.  This growth will be further enhanced by
our completion of the Excel acquisition in Australia."

This month, Peabody Energy gained final approvals to acquire Excel Coal.
The purchase is expected to triple Peabody Energy's coal production in
Australia to satisfy the world's fastest-growing markets.  Major Excel
assets include three operating mines plus three new mines in late-stage
development, along with more than 500 million tons of proven and probable
coal reserves to accommodate future expansion.  Peabody Energy currently
produces approximately 9 million tons per year in Australia.  Excel Coal
operations are expected to produce up to 15 million tons of coal in 2007 and
up to 20 million tons in 2008.

Revenues increased 3% for the third quarter to US$1,265.0 million, and rose
14% to US$3,893.2 million through nine months, on higher realized pricing
and volumes in all regions.  Average revenues per ton for the quarter
improved 6% in the United States and 7% in Australia.  Nine-month coal
shipments totaled an industry-leading 182.9 million tons.

EBITDA totaled US$270.7 million for the quarter and US$809.0 million through
nine months, an increase of 15% and 31% over the respective prior-year
periods.  Quarterly EBITDA improvements were driven by increased volumes,
higher revenue per ton in all regions and lower operating costs in
Australia.  Total operating profit per ton increased 16% to US$2.85.

The US and Australian Mining Operations combined for US$256.2 million in
EBITDA for the quarter compared with US$240.9 million in the prior year.
Operations would have been approximately US$28 million higher for the
quarter absent manufacturer-related equipment issues at the Twentymile Mine.
Trading and Brokerage and Resource Management activities combined for
US$67.3 million in EBITDA compared with US$70.3 million during the
prior-year quarter.

Richard A. Navarre, the Chief Financial Officer and Executive Vice President
of Corporate Development, said, "Peabody's Twentymile Mine is now running
above pre-installation levels as it ramps up to expanded production, and
North Goonyella operated at its highest levels in more than two years during
September.  By installing new longwall systems in Colorado and Australia, we
have strengthened our operating base at two high-margin operations."

Operating profit increased 15% for the quarter to US$173.0 million, and 44%
through nine months to US$519.9 million.  Net income totaled US$142.0
million for the quarter, or US$0.53 per share, compared with respective
prior-year income of US$113.3 million, or US$0.42 per share. Through nine
months, net income increased 63 percent to US$425.7 million, or US$1.58 per
share.

During the quarter, Peabody also received the U.S. Department of
Labor's Sentinels of Safety award for the safest US surface mine, and the
company was also recognized with five of the 12 reclamation excellence
awards granted by the U.S. Department of the Interior.

Reflecting strong investment community interest, Peabody recently completed
a new US$2.75 billion unsecured credit facility with favorable terms, as
well as a US$900 million unsecured senior notes offering that included
access to the 20-year bond market.  The company also repurchased US$88.3
million in BTU stock during the third quarter, at an average price of
US$45.66 per share.

Also during the quarter, the U.S. Environmental Appeals Board affirmed the
air quality permit for the Prairie State Energy Campus in Southern Illinois.
The Prairie State partners also signed an agreement with CMS Enterprises to
jointly develop the project, serve as operating partner for the plant and
jointly share an expected 30 percent interest with Peabody.  Other partners
in the project increased their rights to acquire ownership and power
generation to 53%.  This leaves just 17 percent of the project remaining for
equity placement.  Prairie State also announced that it has signed a letter
of intent with Bechtel to develop the engineering and procurement services
for the power-related facilities.

Peabody also announced an agreement with Rentech to evaluate sites in the
Midwest and Montana for coal-to-liquids (CTL) projects that would turn coal
into diesel and jet fuel.  The plants could range in size from producing
10,000 to 30,000 barrels of fuel per day and use approximately 3 to 9
million tons of coal annually.

                            Markets

Mr. Boyce noted, "As we evaluate the effects of mild weather in 2006 on US
coal-fueled generation, Peabody anticipates a tighter supply-demand picture
going forward as coal use increases due to a return to normal weather
patterns.  And the longer-term demand outlook is very bright, with a number
of new US coal plants expected to begin operation over the next several
years."

Third quarter industry coal production is estimated to have fallen from
prior-year levels.  The company estimates that U.S. generator stockpiles
declined by approximately five to 10 million tons during the quarter, to an
estimated 125 million tons of inventory.

In response to near-term US coal market dynamics, and the challenge of
railroads in meeting current demand, the company is deferring 2007 capital
commitments and tempering its 2007 Powder River Basin production growth
plans.  While Peabody still expects its production and sales in the Powder
River Basin to exceed 2006 levels, the company will lower its previously
planned 2007 Powder River Basin volume growth by 7 million tons.  The
company also intends to defer startup of its planned School Creek Mine to
2009 or beyond, pending an appropriate level of sales commitments.

Peabody now has just 14 million tons of planned US production uncommitted
for 2007, with an additional 12 million tons of coal to be repriced.  The
company has approximately 60 to 65 million tons of planned US production
uncommitted for 2008, with an additional 37 million tons to be repriced.
Through nine months, the company has priced more than 60 million tons of its
premium Powder River Basin product for multiple years at levels more than
double the average realized prices in 2005.

Overall, the US coal supply-demand balance is expected to tighten.
Continued economic growth, constrained nuclear generation and normal weather
patterns are expected to lead to higher coal-based generation, even as a
number of high-cost Eastern US mines have curtailed production.

Powder River Basin coal is expected to satisfy the majority of growth in US
coal demand.  Rail investments such as the recent completion of 18 miles of
triple tracking at a key section of the Powder River Basin should improve
long-term fluidity in moving coal supplies to market, and a long-awaited
study confirms the need for further railroad investments to transport an
additional 196 million tons of coal by 2012.  A number of generators have
announced delays in scrubber installations, further benefiting low-sulfur
Powder River Basin coals.

The company believes the Excel transaction is well timed. Global coal demand
remains strong, with higher-than-expected coal use this summer in Europe and
continued high economic growth in China.  Global steel demand remains up
more than 10% through August.  Outside of the United States, more than
150,000 megawatts of coal-based generating capacity is expected to come
online between 2006 and 2010, representing more than 500 million tons of
annual coal use.

More than 30,000 megawatts of additional generating plants in the US are
targeted for completion by 2010, representing approximately 120 million tons
per annum of additional coal use.

Longer term, a number of coal-to-liquids facilities in China have scheduled
startups beginning in 2007.  Support for U.S. CTL facilities continues to
grow, with bipartisan bills introduced in both houses of Congress to allow
long-term Department of Defense off-take agreements and extension of tax
credits for use of transportation fuels from coal.  The U.S. Air Force
recently completed a successful B-52 test flight using Fisher-Tropsch fuels.
Air Force officials note that the branch could serve as a market enabler by
generating demand for liquids from coal totaling 100 million gallons per
year by 2008, while targeting 50 percent of domestic fuel needs of the
Department of Defense from CTL by the latter part of the next decade.

                             Outlook

Peabody's financial outlook remains very strong.  The company maintains its
2006 targets for record financial results including earnings per share of
US$2.00 to US$2.43 and EBITDA of US$1,050 million to US$1,150 million on
production of approximately 230 million tons and sales of approximately 255
million tons.  Targets exclude the benefit of the new Australian operations
as well as one-time acquisition-related charges.

Longer term, the company's capital investments in US operations, acquisition
of Excel and delivery on higher-priced sales commitments are expected to
provide for continued earnings growth in 2007 and beyond.

Peabody Energy is the world's largest private-sector coal company, with 2005
sales of 240 million tons of coal and US$4.6 billion in revenues.  Its coal
products fuel approximately 10 percent of all US electricity generation and
3 percent of worldwide electricity.

Headquartered in St. Louis, Missouri, Peabody Energy Corp., (NYSE: BTU) --
http://www.peabodyenergy.com/-- is the world's largest private-sector coal
company, with 2005 sales of 240 million tons of coal and US$4.6 billion in
revenues.  Its coal products fuel 10% of all US and 3% of worldwide
electricity.  The company has coal operations in Venezuela.

                        *    *    *

As reported in the Troubled Company Reporter on Sept. 15, 2006,
Standard & Poor's Rating Services assigned its 'BB' rating to
Peabody Energy Corp.'s proposed US$2.75 billion of senior unsecured credit
facilities, consisting of a US$1.8 billion revolving credit facility and
US$950 million Term Loan A.  S&P said the rating outlook is stable.


PETROLEOS DE VENEZUELA: Assures No Shortage of Fuel Supply
----------------------------------------------------------
Petroleos de Venezuela SA assured total normality of fuel supply,
domestically and internationally, after announcing that all its
commercialization processes are going according to the established plan.

Asdrubal Chavez, the Commerce and Supply Executive Director of Petroleos de
Venezuela, stated, "Venezuelans have a reliable supply."

Mr. Chavez commented that all international trade agreements are evolving
according to the plan established by the industry, and delivery guidelines
have always been met.

Petroleos de Venezuela maintains a 3.4 million barrel production after
unifying statistics of crude and natural gas, a figure supported by domestic
fuel consumption and commitments established by the industry in the
international market.

Mr. Chavez noted, "Domestic fuel consumption is approximately 500 mil
barrels, and supported by our production levels, we guarantee that versions
of an alleged shortage of supply in the central region are false."

             Full normality in the central region

The operation of the Yagua Distribution Plant is completely normal, and its
daily load average is around 245 oil tank trucks, an amount that guarantees
full fuel supply in the area.

Similarly, Mr. Chavez disclosed the full operation of El Palito Refinery, a
complex that maintains its processing of 140 thousand crude barrels per day,
and explained that the works carried out are part of a plan of scheduled
shutdowns established by the refining circuit of the industry.

Petroleos de Venezuela SA is Venezuela's state oil company in charge of the
development of the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the operational
activities of its divisions, both in Venezuela and abroad.

                        *    *    *

Standard & Poor's said on July 17 that it may lower the company's B+
foreign-currency debt rating in part because of the absence of timely
financial and operating information.


PETROLEOS DE VENEZUELA: Chevron May Build Gas Plant
---------------------------------------------------
Petroleos de Venezuela SA, the state-owned oil firm of Venezuela, is
negotiating with Chevron Corp. to construct the country's first liquefied
natural gas plant, Contra Costa Times reports.

The plant would produce 4.7 million tons of liquefied natural gas yearly.
The plant would be located in Guiria in the eastern state of Sucre, Contra
Costa says, citing Carlos Figueredo, the head of Petroleos de Venezuela's
offshore unit.

Mr. Figueredo told Contra Costa, "We hope it would be operating before the
end of the decade."

Mr. Figueredo said that Chevron would take a stake in plant, Contra Costa
states.

Petroleos de Venezuela SA is Venezuela's state oil company in charge of the
development of the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the operational
activities of its divisions, both in Venezuela and abroad.

                        *    *    *

Standard & Poor's said on July 17 that it may lower the company's B+
foreign-currency debt rating in part because of the absence of timely
financial and operating information.


PETROLEOS DE VENEZUELA: Extracting Natural Gas from Maracaibo
-------------------------------------------------------------
Nicolas Bracho -- the head of Asociacion Venezolana De Procesadores De Gas,
the natural gas industrialists' association -- told Business News Americas
that Petroleos de Venezuela is extracting an additional 80-100 million cubic
feet of natural gas daily from the Maracaibo lake.

BNamericas relates that the extra production is due to reductions in venting
and flaring as well as improvements in other procedures.

The report says that Venezuela needs the extra gas for:

          -- refining,
          -- thermo generation,
          -- petrochemicals and crude oil production.

The activities consume 70% of the gas supply in the nation, BNamericas
states.

Petroleos de Venezuela, according to BNamericas, normally produces about 500
million cubic feet of natural gas per day at Maracaibo.

Venezuela will not be able to close its gas deficit of one billion cubic
feet per day for months at least, BNamericas says, citing Mr. Bracho.

Mr. Bracho told BNamericas, "Right now there are several plans to sort out
the deficit."

BNamericas underscores that other projects that could help decrease the
deficit include:

          -- development of the ICO natural gas pipeline in
             western Venezuela, and

          -- imports of Colombian gas via the binational
             pipeline project.

"That would really close the deficit," Mr. Bracho told BNamericas.


PETROLEOS DE VENEZUELA: May Have to Repay US$1.6 Billion Bonds
--------------------------------------------------------------
Petroleos de Venezuela SA, the state-owned oil company of Venezuela, may
have to repay US$1.6 billion in bonds, Bloomberg reports.

Bloomberg relates that Venezuela's President Hugo Chavez's plan to take
control of Exxon Mobil Corp.'s and ConocoPhillips' oil production joint
ventures may lead to defaults on US$1.6 billion in bonds.

President Chavez told Bloomberg that his government would seize four units
owned in part by Exxon, ConocoPhillips, Chevron Corp., France's Total SA and
Norway's Statoil ASA.

Bloomberg notes that the ventures, set up before President Chavez became
president in 1999, pump 540,000 barrels of crude per day, or 22% of
Venezuela's oil.  Two of them sold the bonds and the others owe UUS$2.3
billion in loans.

The report says that the ventures include:

          -- Petrozuata CA, 50.1% owned by ConocoPhillips;

          -- Cerro Negro CA, run by Petroleos de Venezuela,
             Exxon and BP Plc;

          -- Sincor SA, run by Total and Statoil; and

          -- Hamaca, owned by ConcoPhillips, Chevron, and
             Petroleos de Venezuela.

Miguel Octavio, a fund manager at BBO Financial Services in Caracas who
holds the securities, told Bloomberg that defaults may require Petroleos de
Venezuela to repay bonds that now cost 90% of their face value, providing a
nice windfall for investors.

Gersan Zurita, an analyst with Fitch Ratings, told Bloomberg, "You would
have a completely different project than the bondholders originally agreed
to finance.  What the government wants would constitute a major material
change.  If it's done without private bondholder consent, we could have a
default."

Bloomberg emphasizes that Petrozuata sold US$1 billion in bonds in three
parts.  Its US$625 million of 8.22% bonds due in 2017 have increased to 97.8
cents from 95 cents on the dollar in 2005.  If the bonds are paid in full by
the end of 2006, they would generate a price gain of 2.25%.

Cerro Negro, which is operated by Exxon, has US$600 million in outstanding
bonds with three maturities, according to Bloomberg.   The firm's US$50
million of 8.03% bonds due in 2028 would bring in about 11% if repaid at
face value.  The securities were trading at about 90.12 cents on the dollar.

Petroleos de Venezuela and Exxon each own less than 42% of Cerro Negro,
while BP Plc holds the remainder.  Sincor has US$1.2 billion in outstanding
loans, while Hamaca has US$1.1 billion in loans, Bloomberg states.

Petroleos de Venezuela SA is Venezuela's state oil company in charge of the
development of the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the operational
activities of its divisions, both in Venezuela and abroad.

                        *    *    *

Standard & Poor's said on July 17 that it may lower the company's B+
foreign-currency debt rating in part because of the absence of timely
financial and operating information.


* BOOK REVIEW: The First Junk Bond: A Story of Corporate Boom
-------------------------------------------------------------
Author: Harlan D. Platt
Publisher: Beard Books
Softcover: 256 pages
List Price: $34.95

Order your personal copy today at
http://amazon.com/exec/obidos/ASIN/1587981203/internetbankrupt

Only one in 10 failed businesses is equal to the task of
reorganizing itself and satisfying its prior debts in some
fashion.  This engrossing book follows the extraordinary journey
of Texas International Inc. (known by its New York Stock Exchange stock
symbol, TEI), through its corporate growth and decline, debt exchange
offers, and corporate renaissance as Phoenix Resource Companies, Inc.

As Harlan Platt puts it, TEI "flourished for a brief luminous
moment but then crashed to earth and was consumed."  TEI's story
features attention-grabbing characters, petroleum exploration
innovations, financial innovations, and lots of risk taking.

The First Junk Bond was originally published in 1994 and received solidly
favorable reviews.  The then-managing director of High Yield Securities
Research and Economics for Merrill Lynch said that the book "is a richly
detailed case study.

Platt integrates corporate history, industry fundamentals,
financial analysis and bankruptcy law on a scale that has rarely, if ever,
been attempted."

A retired U.S. Bankruptcy Court judge noted, "(i)t should appeal
as supplementary reading to students in both business schools and law
schools . . . .  Even those who practice . . . in the areas of business law,
accounting and investments can obtain a greater understanding and
perspective of their professional expertise."

"TEI's saga is noteworthy because of the company's resilience and ingenuity
in coping with the changing environment of the 1980s, its execution of
innovative corporate strategies that were widely imitated and its
extraordinary trading history," says the author.

TEI issued the first junk bond.  In 1986 it achieved the largest
percentage gain on the NYSE, and in 1987 suffered the largest
percentage loss.  It issued one of the first bonds secured by a
physical commodity and then later issued one of the first PIK
(payment in kind) bonds.  It was one of the first vulture
investors, to be targeted by vulture investors later on.  Its
president was involved in an insider trading scandal.  It
innovated strip financing.  It engaged in several workouts to sell off
operations and raise cash to reduce debt.  It completed three exchange
offers that converted debt in to equity.

In 1977, TEI, primarily an oil production outfit, had had a
reprieve from bankruptcy through Michael Milken's first ever junk bond.

The fresh capital had allowed TEI to acquire a controlling
interest of Phoenix Resources Company, a part of King Resources
Company.

TEI purchased creditors' claims against King that were
subsequently converted into stock under the terms of King's
reorganization plan.

Only two years later, cash deficiencies forced Phoenix to sell off its
non-energy businesses.  Vulture investors tried to buy up outstanding TEI
stock.  TEI sold off its own nonenergy businesses, and focused on oil and
gas exploration.  An enormous oil discovery in Egypt made the future look
grand.  The value of TEI stock soared.  Somehow, however, less than two
years later, TEI was in bankruptcy.  What a ride!

All told, the book has 63 tables and 32 figures on all aspects of TEI's
rise, fall, and renaissance.  Businesspeople will find
especially absorbing the details of how the company's bankruptcy
filing affected various stakeholders, the bankruptcy negotiation
process, and the alternative post-bankruptcy financial structures that were
considered.  Those interested in the oil and gas industry will find the book
a primer on the subject, with an appendix devoted to exploration and
drilling, and another on oil and gas accounting.

Harlan Platt is professor of Finance at Northeastern University.
He is president of 911RISK, Inc., which specializes in developing analytical
models to predict corporate distress.


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S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter - Latin America is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA,
and Beard Group, Inc., Frederick, Maryland USA.  Marjorie C. Sabijon, Sheryl
Joy P. Olano, Stella Mae Hechanova, and Christian Toledo, Editors.

Copyright 2006.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or publication
in any form (including e-mail forwarding, electronic re-mailing and
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Information contained herein is obtained from sources believed to be
reliable, but is not guaranteed.

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via e-mail.  Additional e-mail subscriptions for members of the same firm
for the term of the initial subscription or balance thereof are US$25 each.
For subscription information, contact Christopher Beard at 240/629-3300.


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